AssumingI were to purchase a freehold housein Piccadilly for cash and have no survey and no local authority searches how much could I expect to to save on my conveyancing in Piccadilly?

Any savings you would gain will be limited to the Piccadilly conveyancing searches. A conveyancer still got to do everything else - money laundering, correspond with the vendors solicitor, SDLT return, register the title etc. You might save a bit for them not having to register a mortgage however it will not be meaningful.

Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Piccadilly?

There are two types of lawyers who can carry out conveyancing in Piccadilly namely licenced conveyancers or solicitors. Both professionals provide conveyancing services that you need to complete the disposal or acquisition of property. Both are obliged to conduct Piccadilly conveyancing on similar quality and guidelines so you can be sure that your conveyancing will be properly administered and that the requisite steps will be accurately taken.

We are getting the release of further monies on our mortgage from Co-operative as we want to conduct improvements to our home in Piccadilly. Are we obliged to select a high street Piccadilly solicitor on the Co-operative conveyancing panel to handle the legals?

Co-operative would not normally require firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative list.

Our sealed bid on a semi in Piccadilly has been agreed to, the vendors do nevertheless have an associated purchase. The vendors have offered on a flat, but it’s not yet tied up, and have viewings of other properties in the pipeline. I have instructed a nearby conveyancing solicitor in Piccadilly. What do I do now? At what stage do I apply for the mortgage with Bank of Ireland?

It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of £1k, then survey, Piccadilly conveyancing search costs, etc). The first thing to do is check that your lawyer is on the Bank of Ireland approved list. As to the next steps this very much depends on the specifics of your transaction, attraction to the property and on the state of the market. During a hot market many purchasers would apply for the mortgage with Bank of Ireland and pay for the valuation and only if it comes back ok would they pay their property lawyer to press on with the conveyancing in Piccadilly.

I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a straight forward, chain free conveyancing. Piccadilly is the location of the property. Can you offer any guidance?

Flying freeholds in Piccadilly are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Piccadilly you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Piccadilly may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

My cousin has encouraged me to instruct his conveyancers in Piccadilly. Do I take his recommendation?

No doubt the ideal way to find a conveyancing lawyer is to have guidance from friends or family who have used the conveyancer you're considering.

I work for a long established estate agent office in Piccadilly where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Piccadilly conveyancing firms. Could you clarify whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Piccadilly conveyancing firm to represent me?

Absolutely. We are happy to put you in touch with a Piccadilly conveyancing firm who can help.

An example of a Lease Extension decision for a Piccadilly property is Flat 1 3 Upper Belgrave Street in December 2010. The Tribunal determined that the price payablefor the Lease extension in respect of the subject premises was £2,202,007 This case was in relation to 1 flat. The unexpired term was 21 years.