What is the first thing I need to know about purchase conveyancing in Penwortham?

You may not hear this from too many lawyers but conveyancing in Penwortham or throughout England and Wales is often a confrontational experience. In other words, when it comes to conveyancing there is lots of opportunity for confrontation between you and others involved in the ownership transfer. E.g., the vendor, selling agent and on occasion a lender. Choosing a lawyer for your conveyancing in Penwortham is a critical decision as your conveyancer is your adviser, and is the ONE party in the process whose role it is to look after your legal interests and to protect you.

Sometimes a potential adversary will try and convince you that you should follow their advice. For instance, the estate agent may claim to be assisting by suggesting your lawyer is wrong. Or your financial adviser may try to convince you to do something that is contrary to your lawyers guidance. You should always trust your lawyer above all other parties in the home moving process.

I am the single recipient of my late grandmother’s estate with all property in now in my sole name, including the house in Penwortham. The Penwortham property was put into my name in December. I want to move. I understand that there is a CML 6 month 'rule', which means that my proprietorship will be treated the same way as though I had purchased the house in December. Do I have to wait 6 months to sell?

The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. many mortgage companies would take a practical view as this clause is primarily there to pick up on the purchase and immediately sell or the quick reselling of properties.

When it comes to mortgage companies such as Clydesdale, do Penwortham lawyers incur an annual charge to be on the conveyancing panel?

We are unaware of any bank fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.

I have a mortgage with Clydesdale for my property in Penwortham. Conveyancing has been completed some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?

Clydesdale must be informed of your intention prior to renting your property as this is likely to be a breach of Clydesdale’s mortgage conditions. It may be that Clydesdale will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. You need not do this via a Clydesdale conveyancing panel lawyer.

I used Stirling Law a few years past for my conveyancing in Penwortham. I now require my papers but cannot find the solicitor. What do I do?

Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Penwortham of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.

What does commercial conveyancing in Penwortham cover?

Penwortham conveyancing for business premises covers a broad array of guidance, provided by qualified solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.

I am looking at a couple of maisonettes in Penwortham which have in the region of 50 years remaining on the lease term. should I be concerned?

There are no two ways about it. A leasehold flat in Penwortham is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. The majority of purchasers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Penwortham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I inherited a leasehold flat in Penwortham, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Penwortham with over 90 years remaining are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease expires on 21st October 2105

With 80 years left to run we estimate the price of your lease extension to range between £8,600 and £9,800 as well as legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.