I am looking to buy a house and require a conveyancing solicitor in Streetly who is on the Nottingham Building Society conveyancing. Can you recommend a local solicitor?

Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Nottingham Building Society in certain locations such as Streetly. We dont recommend any particular firm.

I have been told that property searches are a common cause of obstruction in Streetly house deals. Is this right?

The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of holding up conveyancing in Streetly.

I have been on the look out for a ground for flat up to £195,000 and identified one round the corner in Streetly I like with open areas and railway links nearby, however it only has 49 years unexpired on the lease. I can't really find anything else in Streetly in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?

If you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you may 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 existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.

Am I right to be concerned by brokers that I am dealing with are encouraging me to use a factory type conveyancing firm as opposed to a local Streetly conveyancing company?

As is the case with many professional services, often recommendations from family and friends can be worth their weight in gold. Nevertheless there are lots of players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all put forward lawyers to appoint. On occasion the lawyers might be known to one of the organisations as being good in their field, but sometimes there behind the scenes commercial relationship behind the endorsement. You have the discretion to appoint your preferred lawyer. Don't forget that some mortgage providers operate an approved list of solicitors you must use for the mortgage aspect of your transaction.

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Streetly. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

Most houses in Streetly are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Streetly in which case you should be looking for a Streetly conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I invested in buying a leasehold flat in Streetly, conveyancing was carried out 3 years ago. How much will my lease extension cost? Equivalent properties in Streetly with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ends on 21st October 2092

With just 67 years left to run we estimate the price of your lease extension to range between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should 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 should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.