Is it necessary to pay for insurance to cover chancel repairs when buying a residence in St Andrews?

Unless a previous acquisition of the property completed post 12 October 2013 you could expect lawyers handling conveyancing in St Andrews to continue to advocate a chancel search and or chancel repair liability policy.

I am looking for a leasehold apartment up to £245,000 and identified one close by in St Andrews I like with amenity areas and station nearby, however it's only got 49 remaining years left on the lease. There is not much else in St Andrews in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?

Should you require a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.

In scouring the world wide web for the phrase conveyancing in St Andrews it reveals numerous conveyancersin the area. How do I determine which is the suitable solicitor for me?

The preferential way of seeking the right conveyancer is via trusted testimonial, so enquire of colleagues and family who have bought a property in St Andrews or a local estate agent or mortgage broker. Costs for conveyancing in St Andrews vary, so it's advisable to request at least three quotes from different property lawyers. Dont forget to clarify that the fees are fixed.

I have just started marketing my basement apartment in St Andrews. Conveyancing is yet to be initiated, but I have recently had a quarterly service charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge as normal given that all rents and service invoices will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am the registered owner of a basement flat in St Andrews, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in St Andrews with a long lease are worth £180,000. The ground rent is £65 levied per year. The lease terminates on 21st October 2084

With just 59 years unexpired we estimate the premium for your lease extension to range between £20,900 and £24,200 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

I am just shy of a 10% deposit on my apartment purchase in St Andrews , but I am keen exchange. Do I have options?

You can accept a lesser deposit. Most sellers will agree to a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second