We are soon to complete buying a property in Ravenshead but as a consequence of damage from the recent storms I have was able negotiate compensation from the vendor of £3k taking the form of a reduction in the price. I had intended this to be addressed as part of the conveyancing process however Santander are not allowing this. Why were they approached?

Your conveyancing practitioner that is on a Santander conveyancing panel is duty bound to advise Santander of any variations to the purchase price. If you prohibit your conveyancing practitioner to report the price change to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new property lawyer for your conveyancing in Ravenshead.

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

You may not hear this from too many lawyers but conveyancing in Ravenshead and elsewhere in Nottinghamshire is often a confrontational process. Put another way, when it comes to conveyancing there is an abundance of opportunity for conflict between you and others involved in the home moving process. For example, the seller, property agent and sometimes your mortgage company. Choosing a solicitor for your conveyancing in Ravenshead should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the process whose responsibility is to act in your best interests and to protect you.

There is a distinct ongoing adversarial element to conveyancing- someone has to be blamed for the process taking so long. We recommend that you should always trust your conveyancer ahead of the other parties when it comes to the legal assignment of property.

I am assisting my aunt sell her flat in Ravenshead. Will the conveyancing solicitor order an EPC or should I organise this?

Following the demise of Home Information Packs, energy performance certificates was kept a mandatory component of selling a property. An energy performance certificate must be to hand prior to the property being marketed. It is not something that lawyers normally arrange. Where you are using a Ravenshead conveyancing lawyer they might help arrange energy performance certificates due to their relationships with reputable local energy assessors

This question may be naive but I am new to the home moving as a first time purchaser of a ground floor flat in Ravenshead. Do I receive the keys to the property on completion from my solicitor? If so, I will use a local conveyancing solicitor in Ravenshead?

There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you will be able to pick up the keys from the selling Agents and move into your new home. Usually this occurs between 1 and 3pm.

I happen to be the sole recipient of my late grandmother’s will and I have everything in my name alone, including the house in Ravenshead. The Ravenshead property was put into my name in December. I plan to dispose of the property. I understand that there is a CML 6 month 'rule', which means that my proprietorship will be treated the same way as if I'd bought the property in December. Is the property unsalable for six months?

The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. many lenders would take a pragmatic view as this requirement is principally there to identify the purchase and immediately sell or the quick reselling of properties.

As co-executor for the estate of my grandmother I am disposing of a property in Swansea but I am based in Ravenshead. My conveyancer (approximately 235 kilometers from meneeds me to sign a stat dec ahead of the transaction finalising. Could you suggest a conveyancing lawyer in Ravenshead to attest this legal document for me?

Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are Ravenshead based

I am looking at a two apartments in Ravenshead which have in the region of 50 years unexpired on the leases. should I be concerned?

There is no doubt about it. A leasehold flat in Ravenshead is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of purchasers and banks, leases with less than 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 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 Ravenshead 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. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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 purchased a studio flat in Ravenshead, conveyancing formalities finalised in 1995. Can you work out an approximate cost of a lease extension? Similar properties in Ravenshead with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ceases on 21st October 2088

With just 63 years remaining on your lease we estimate the price of your lease extension to range between £16,200 and £18,600 as well as costs.

The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to 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.