I am buying a new build flat in Sawtry. How practical is it for me to do the conveyancing?

Leaving aside the complexities and merits of DIY conveyancing in Sawtry you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Sawtry.

What does a local search tell me regarding the house we're buying in Sawtry?

Sawtry conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company for example PSG The local search is essential in every Sawtry conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your new home. The search will supply data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.

It has been 2 months since my purchase conveyancing in Sawtry concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I am looking for a flat up to £235,500 and identified one round the corner in Sawtry I like with amenity areas and transport links nearby, however it only has 52 years on the lease. There is not much else in Sawtry in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?

If you require a mortgage that many years may be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.

We own a leasehold flat in Sawtry. Conveyancing was finished in last year. I have been told that I mustn’t let the the remaining lease term to fall too low. Is this right?

Sawtry leasehold properties are for a fixed term - normally 99 years when they are first granted. However many flats in Sawtry were built or converted 25 or more years ago and so these leases now have fewer than 80 years unexpired. This may seem like a long time but Banks, Building Societies and other mortgage lenders tend to need leases to have a minimum of seventy five years remaining to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are approaching eighty years. To maximise the saleability of your property you should be considering whether or not to extend your lease long before you come to sell it. Furthermore advantages to doing so before the lease hits 80 years as when the lease falls below eighty years the amount to be paid to extend starts to get a lot more expensive.