I am need of leasehold conveyancing for a flat in a fairly new development (6 years built) in Petersfield. 95% of the appartments have already been sold. Do I need carry out the local searches for my conveyancing in Petersfield?

If you are purchasing a property with the assistance of a loan, your lender will require some (many) of the searches so you'll have no choice. If not, then Petersfield conveyancing searches are optional. Your solicitor, will 'advise', perhaps in the strongest possible terms, that you should not go ahead without searches, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you choose to instruct your lawyer to proceed without searches then your lawyer will have to follow your instructions or you will need to change to an alternative solicitor for your conveyancing in Petersfield.

I had intended to instruct a conveyancing solicitor in Petersfield for our home move. Our financial adviser has since notified us that our bank Bank of Scotland won't deal with them. Why is this not regarded as unfair competition?

Mortgage Companies in the main restrict either the type or the amount of conveyancing firms on their panel. Typical examples of such restriction(s) being that a law practice must have two or more partners. In addition to restricting the type of firm, some have decided to limit the amount of firms they permit to represent them. You should note that Bank of Scotland have no responsibility for the quality of advice provided by any member of Bank of Scotland Conveyancer Panel. Mortgage fraud was a key driver in the reduction of solicitor panels a few years ago even though there are differing opinions concerning the extent of solicitor engagement in some of that fraud. Figures from the Land Registry reveal that hundreds of law firms, including some in or near Petersfield only execute very few conveyances a year.

I have been recommended by numerous estate agents in Petersfield to choose a conveyancer on your site. What’s the financial upside for Estate Agents to market your lawyers rather than another?

We refuse to make any financial incentive for sending work in our direction. We thought it would be too underhand to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.

In my capacity as executor for the will of my father I am disposing of a property in Newport but I am based in Petersfield. My solicitor (based 260 kilometers from mehas requested that I execute a stat dec prior to completion. Could you suggest a conveyancing practitioner in Petersfield who can attest this legal document for me?

Technically speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are located in Petersfield

I am attracted to a couple of maisonettes in Petersfield which have about forty five years left on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Petersfield is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. The majority of buyers and lenders, leases with under eighty 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 premises 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 Petersfield conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 acquired a studio flat in Petersfield, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Petersfield with a long lease are worth £171,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease runs out on 21st October 2104

With 79 years unexpired the likely cost is going to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.