Is there a reason why leasehold purchase conveyancing in Braunstone costs more?

In short, leasehold conveyancing in Braunstone and elsewhere usually requires more hours of investigation compared to freehold transactions. This includes lease investigation, communicating with the landlord concerning the service of appropriate notices, obtaining current service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first granted.

I am remortgaging my apartment in Braunstone, does my lawyer need to be on the Barclays Conveyancing panel?

In theory, you could use a solicitor that is not on the Barclays conveyancing panel, but Barclays would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.

A friend suggested that if I am buying in Braunstone I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?

This is a search is usually included in the estimate for your Braunstone conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Braunstone around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information concerning Braunstone.

I am buying a new build house in Braunstone with a mortgage from Platform Home Loans Ltd. The builders refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not inform my conveyancer about the extras as it would put at risk my mortgage with Platform Home Loans Ltd. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

My wife and I may need to sub-let our Braunstone garden flat temporarily due to a new job. We used a Braunstone conveyancing firm in 2004 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

Some leases for properties in Braunstone do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I invested in buying a ground floor flat in Braunstone, conveyancing formalities finalised in 2004. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Braunstone with an extended lease are worth £176,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2075

With 50 years unexpired we estimate the price of your lease extension to span between £31,400 and £36,200 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.