Can you explain why leasehold purchase conveyancing in Eastleigh is more expensive?

Eastleigh leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.

I am close to exchanging contracts on the sale of our house in Eastleigh and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A high street Eastleigh lawyer would know this is not the case. It does beg the question why the buyers are using a factory type conveyancing practice as opposed to a conveyancing solicitor in Eastleigh. Having lived in Eastleigh for three years we know that this is a non issue. Should we get in touch with our local Authority to seek confirmation that there is no issue.

It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)

I'm buying a new build house in Eastleigh with a mortgage from . The developers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not to tell my solicitor about this extras as it would impact my mortgage with the bank. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the builder 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.

How easy is it to swap conveyancer as I have to retain one who is on the conveyancing list. I had appointed a high street conveyancing solicitor in Eastleigh round the corner but she is not approved by

It would be our pleasure to assist you find a conveyancing solicitor in Eastleigh on the panel. Please note that the conveyancers that we list do not pay us commission if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Eastleigh. Using the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Eastleigh.

I am looking at a two flats in Eastleigh which have approximately forty five years unexpired on the lease term. should I be concerned?

There is no doubt about it. A leasehold apartment in Eastleigh is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most purchasers and lenders, leases with under 75 years become less and less marketable. 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 premises 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 Eastleigh 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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 invested in buying a garden flat in Eastleigh, conveyancing having been completed 1995. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Eastleigh with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 50

With just 50 years remaining on your lease the likely cost is going to be between £36,100 and £41,800 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use this information 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 move forward placing reliance on this information without first seeking the advice of a professional.