A relative informed me that in buying a property in Wellington there could be a number of restrictions prohibiting external alterations to a property. Is this right?

There are anumerous of properties in Wellington which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Wellington should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

When it comes to lenders such as Leeds Building Society, do Wellington lawyers incur a yearly amount to be on the conveyancing panel?

We are unaware of any bank fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.

My fiancee and I are in the throws of looking at apartments in Wellington and I am about to put in an offer. Is it best to have a conveyancing practitioner on ‘stand by’? I am planning to take a home loan with Lloyds.

It would be advisable to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. As you are seeking a mortgage with Lloyds, ask your prospective lawyers if they are on the Lloyds conveyancing panel otherwise they can't do the mortgage legal work.

How does conveyancing in Wellington differ for newly converted properties?

Most buyers of new build property in Wellington approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is completed. This is because house builders in Wellington tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Wellington or who has acted in the same development.

How can the Landlord & Tenant Act 1954 impact my commercial premises in Wellington and how can you help?

The particular law that you refer to provides a safeguard to business lessees, granting the dueness to apply to court for a renewal lease and remain in occupation when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act for protection and help with commercial conveyancing in Wellington

We're novice buyers - agreed a price, but the estate agent told us that the seller will only proceed if we use their chosen lawyers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a family conveyancer who is familiar with conveyancing in Wellington

We suspect that the seller is unaware of this ultimatum. Should the seller want ‘a quick sale', turning down a serious buyer is not the way to achieve this. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)however you intend to instruct your preferred Wellington conveyancing solicitors - not the ones that will earn their estate agent a kickback or hit his conveyancing thresholds demanded by senior management.

I am employed by a busy estate agent office in Wellington where we have witnessed a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Wellington conveyancing firms. Can you confirm whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Wellington Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing

Who are the managing agents? The best form of lease structure is a share of the freehold. In this scenario the lessees benefit from control and although a managing agent is often employed where the building is larger than a house conversion, the managing agent is directed by the tenants. Where a Wellington lease has no more than 80 years it will affect the marketability of the property. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably require a lease extension at some point and you need to have some idea of how much this will be. Remember, in most cases you would need to own the residence for two years in order to be legally able to exercise a lease extension.