I have given 8 weeks notice to my current landlord and have to be out of my let out flat in Horley by 28/8/2025. Conveyancing for my house purchase is progressing. How realistic is it to complete in 5 weeks as don't want to have to move into temporary accommodation?

It is unwise to provide notice for your letting unless your lawyer suggests that you should. Assuming that you have not previously done so, notify to your lawyer and request that they seek the assistance the sellers solicitors, try to get a realistic time scale from them that all parties will look to achieve

Will conveyancers request money up-front for my conveyancing in Horley?

If you are buying a property in Horley your solicitor will ask you to provide them with funds to cover the the cost of the conveyancing searches. Normally this is asked for to cover the fees of the conveyancing searches. If any down payment is as part of the purchase price then this should be required immediately before exchange of contracts. The closing balance that is due will be payable shortly before completion.

Are there restrictive covenants that are commonly picked up as part of conveyancing in Horley?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Horley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

How simple is it to transfer to a new firm as I have to appoint one who is on the Bank of Ireland conveyancing panel. I was using a local conveyancing solicitor in Horley round the corner but he is not accepted by Bank of Ireland

It would be our pleasure to assist you select a conveyancing solicitor in Horley on the Bank of Ireland panel. Please note that the conveyancers that we work with do not pay us commission if you instruct them and are authorised and regulated by the SRA who oversee all conveyancing solicitors in Horley. In utilising the find a conveyancing solicitor tool on this page, you can scrutinise fees for conveyancing solicitors in Horley and beyond.

I am looking at a two apartments in Horley which have about forty five years left on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Horley is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the marketability of the property. For most buyers and mortgage companies, leases with less than 75 years become less and less attractive. On a more upbeat 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 residence 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 Horley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 any new 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 am the registered owner of a leasehold flat in Horley, conveyancing was carried out October 2000. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Horley with over 90 years remaining are worth £181,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2076

With only 51 years unexpired we estimate the premium for your lease extension to range between £30,400 and £35,200 plus legals.

The figure 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 this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.