Can you explain why leasehold purchase conveyancing in Downham costs more?

Downham leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

A relative pointed out to me me that in buying a property in Downham there could be a number of restrictions as to what one can do in terms of external changes to the property. Is this right?

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

is it true that all Downham solicitors on the conveyancing panel are overseen by the SRA?

As a firm of solicitors, in order to be on the conveyancing panel they would need to be regulated by the SRA. Some lenders do permit licenced conveyancers on their panel in which case such practice would be overseen by the Council of Licensed Conveyancers.

We have agreed to purchase a house in Downham. An unusual aspect is that the roof has a solar panel. have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?

As your lender is your lawyer must follow the conveyancing instructions outlined in Part two of UK Finance Lenders’ Handbook for . The CML Handbook stipulates minimum specifications for solar panel roof-space leases, and are required to report to where a lease fails to comply with these requirements. The requirements relate to the installation of panels on properties countrywide and is not restricted to Downham.

Due to the guidance of my in-laws I had a survey completed on a property in Downham before retaining lawyers. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some lenders tend refuse to give a mortgage on such a premises.

It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. If you e-mail us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Downham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Downham to see if the conveyancing will be more expensive.

Am I right to be concerned that estate agents that I am dealing with are recommending a nationwide conveyancing firm as opposed to a local Downham conveyancing firm?

As with lots of service providers, often suggestions from family and friends can be very helpful. But there are lots of parties with a vested interest in a conveyancing deal; estate agents, financial adviser and mortgage companies might all put forward solicitors to select. Sometimes these conveyancers might be known to one of the organisations as being good in their field, but sometimes there behind the scenes commercial relationship behind the recommendation. You are free to choose your preferred conveyancer. Don't forget that many banks have an approved list of solicitors you must use for the mortgage aspect of your home move.

I acquired a split level flat in Downham, conveyancing formalities finalised half a dozen 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? Comparable properties in Downham with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease terminates on 21st October 50

You have 50 years left to run we estimate the price of your lease extension to range between £36,100 and £41,800 plus professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.