A loan agreement from Nationwide for the refinancing of my 3 room garden flat is expected by the end of next week. Can you suggest a low cost conveyancing solicitor in Church Stretton?

You are on the wrong site if you are seeking cut-price fees for conveyancing in Church Stretton. We can offer you cost effective conveyancing but our intention is not to work with the cheapest lawyers. Avoid the trap of appointing organisations seducing you with low cost conveyancing in Church Stretton. The optimum outcome, in choosing a lawyer for low cost conveyancing, you will get your money’s worth and at worst it will result in you spending a lot in extras and still not get the service required.

What can a local search reveal regarding the house my wife and I purchasing in Church Stretton?

Church Stretton conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search organisations for instance PSG The local search plays an important part in many a Church Stretton conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your new home. The search will supply data on, amongst other things, details on planning applications relevant to the property (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 13 topic headings.

Due to the encouragement of my in-laws I had a survey completed on a property in Church Stretton before retaining solicitors. I have been advised that there is a flying freehold element to the property. My surveyor has said that some banks may refuse to give a mortgage on such a house.

It varies from the lender to lender. Lloyds has different requirements for example to Halifax. Should you wish to telephone us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Church Stretton. Conveyancing will be smoother if you use a solicitor in Church Stretton especially if they regularly deal with such properties in Church Stretton.

I am using a search engine for the term on line conveyancing in Church Stretton it reveals many property lawyerslocally. How do I determine which is the right property lawyer for purchase transaction?

The ideal way of choosing the right conveyancer is via trusted recommendation, so seek the guidance of colleagues and family who have bought a property in Church Stretton or the local estate agent or mortgage broker. Charges for conveyancing in Church Stretton vary, so it's a good idea to secure at least three quotes from different law firms. Be sure to secure confirmation that the fees are fixed.

I am looking at a two flats in Church Stretton which have about fifty years unexpired on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Church Stretton is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most buyers and banks, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 property 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 Church Stretton 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 bought a basement flat in Church Stretton, conveyancing formalities finalised 3 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Church Stretton with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2075

With 50 years left to run we estimate the premium for your lease extension to range between £31,400 and £36,200 plus legals.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.