Having been referred to your organisation we were about to use a conveyancing solicitor in Low Fell endorsed using your comparison tool but stumbled across some other quotes via the web appear less pricey – how come?

You can find many firms of firms promoting self styled £99 conveyancing, unfortunately it’s common in such cases for supplementalcosts end up with the closing invoice totally different to the one you expected. In accordance with regulatory requirements fees outlined in terms of engagement should be equitable invoiced The conveyancers that we put forward for conveyancing in Low Fell set out all legal fees for the property you plan tobuy.

Are there restrictive covenants that are commonly identified as part of conveyancing in Low Fell?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Low Fell. 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…’

Over the last few months I have been searching for a flat up to £305k and identified one near me in Low Fell I like with open areas and transport links nearby, however it only has 52 remaining years left on the lease. I can't really find anything else in Low Fell in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?

Should you need a home loan the shortness of the lease will likely be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.

Taking into account that I will soon part with hundreds of thousands of pounds on a terraced house in Low Fell I wish to have a conversation with the solicitor concerning thetransaction in advance of instructing the firm. Can this be arranged?

Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the conveyancer who will be doing your property ownership legalities in Low Fell.There is no ‘factory style conveyancing’ - every client is an important person, not a case reference. The law firms that we put you in touch with believe that the figure you are provided with for residential conveyancing in Low Fell should be the amount on the final invoice that you end up paying.

I am tempted by the attractive purchase price for a two flats in Low Fell which have approximately 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Low Fell is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the premises. For most buyers and mortgage companies, leases with less than eighty years become less and less marketable. 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 Low Fell 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.

Low Fell Leasehold Conveyancing - A selection of Queries before buying

How many years are left on the lease? You will want to discover as much as possible regarding the company managing the block as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you will be in the clutches of the managing agents from a financial perspective and when it comes to practical matters such as the cleanliness of the communal areas. Don't be shy to ask other tenants whether they are happy with their service. On a final note, be sure you discover the dates that you are obliged pay the maintenance charge to the managing agents and specifically what it includes. Are any of leasehold owners in dispute over their service charge liability?