I have been told that property searches are the primary reason for delay in Rickmansworth house deals. Is this right?

The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any slowing down conveyancing in Rickmansworth.

How does conveyancing in Rickmansworth differ for newly converted properties?

Most buyers of new build premises in Rickmansworth approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is finished. This is because builders in Rickmansworth usually buy the real estate, 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 property lawyers 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 accustomed to new build conveyancing in Rickmansworth or who has acted in the same development.

I opted to have a survey carried out on a property in Rickmansworth in advance of instructing lawyers. I have been informed that there is a flying freehold overhang to the house. The surveyor advised that some banks tend refuse to issue a mortgage on this type of property.

It depends who your proposed lender is. Santander has different instructions for example to Halifax. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Rickmansworth. Conveyancing will be smoother if you use a solicitor in Rickmansworth especially if they are accustomed to such properties in Rickmansworth.

I'm remortgaging my current home to a buy to let loan with and I will use the rest of the raised equity as a down payment on further property. The neighborhood we are talking about is Rickmansworth. Will your solicitors be able to act for both sets of banks and tie in the transactions?

Do use our comparison tool on this page to check that the conveyancers are on the appropriate lender panels. Assuming that they are the lawyer will be able to connect the two transactions but you should talk with you solicitor and communicate your desired outcome and needs.

Looking forward to exchange soon on a studio apartment in Rickmansworth. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Rickmansworth should include some of the following:

You should be told what constitutes a Nuisance as far as the lease is concerned specifics of the parties to the lease, for instance these could be the (you), head lessor, landlord You should be sent a copy of the lease Additions to the premises The unexpired lease term. You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years

I purchased a ground floor flat in Rickmansworth, conveyancing having been completed 3 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Rickmansworth with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £45 yearly. The lease comes to an end on 21st October 50

With 50 years unexpired we estimate the premium for your lease extension to span between £36,100 and £41,800 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.