I am buying a house without a mortgage in Poulton Le Fylde. I have been living for the last 20 years in Poulton Le Fylde. Conveyancing searches are a lot of money. As I have knowledge of the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?

In the absence of a home loan, then the vast majority of the Poulton Le Fylde conveyancing searches are optional. Your solicitor will 'advise', no-doubt strongly, that you should have searches carried out, but he is duty bound to do this. One thing to bear in mind; if you are going to dispose of the house at a future date, it will likely be be of importance to your future buyer what the searches reveal. There are plenty of instances where premises with no practical issues can still show up unfavourable search results. A competent conveyancing solicitor in Poulton Le Fylde should provide you some helpful guidance in this regard.

Should our conveyancer be making enquiries concerning flooding as part of the conveyancing in Poulton Le Fylde.

Flooding is a growing risk for solicitors carrying out conveyancing in Poulton Le Fylde. Some people will buy a house in Poulton Le Fylde, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.

Lawyers are not qualified to offer advice on flood risk, however there are a number of checks that can be initiated by the buyer or by their conveyancers which should give them a better appreciation of the risks in Poulton Le Fylde. The standard property information forms given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the vendor to determine if the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the vendor, then a buyer may commence a legal claim for losses stemming from an incorrect answer. The buyer’s solicitors will also carry out an enviro search. This will reveal if there is any known flood risk. If so, further investigations will need to be conducted.

How does conveyancing in Poulton Le Fylde differ for newly converted properties?

Most buyers of new build property in Poulton Le Fylde come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Poulton Le Fylde typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Poulton Le Fylde or who has acted in the same development.

I am tempted by the attractive purchase price for a two apartments in Poulton Le Fylde which have in the region of 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Poulton Le Fylde is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of purchasers and banks, leases with less than eighty years become less and less attractive. 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 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 premises 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 Poulton Le Fylde 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. 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 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 inherited a leasehold flat in Poulton Le Fylde, conveyancing formalities finalised June 1995. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Poulton Le Fylde with over 90 years remaining are worth £202,000. The ground rent is £60 invoiced annually. The lease finishes on 21st October 2083

With only 57 years unexpired the likely cost is going to span between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

What is the best way to find the right lawyer for my conveyancing in Poulton Le Fylde ?

Option 1 is to ask the people you trust who they used in the past and if they were happy with the service. Second, look on the internet for conveyancing in Poulton Le Fylde. Telephone a couple or more firms from the list and request that they send you their conveyancing charges and discuss your needs with the solicitor who will conduct your conveyancing before you make your choice. Third is to make use of this site to assist you in finding the right lawyers for you based on your unique factors including location,speed, complexity and who your intended lender is.Avoid the trap of appointing lowest cost conveyancing solicitors in Poulton Le Fylde