I am need of leasehold conveyancing for a flat in a fairly new development (6 years old) in Timsbury. Almost all the properties are already disposed of. Do I need carry out the neighbourhood searches for my conveyancing in Timsbury?

Conveyancing Searches are a central link in the Timsbury conveyancing process. There are hundreds companies conducting Timsbury conveyancing searches, as well direct from the local authority. These are known collectively as personal search providers due to them carrying out, personal searches. Nevertheless, all Local Authority Search conveyancing products have one thing in common - they must obtain their information from the local authoritative source.

What is the first thing I need to know about purchase conveyancing in Timsbury?

Not many law firms shout this from the rooftops but conveyancing in Timsbury and elsewhere in North Somerset is an adversarial experience. In other words, when it comes to conveyancing there exists plenty of opportunity for friction between you and other parties involved in the ownership transfer. For instance, the vendor, estate agent and even potentially a lender. Selecting a solicitor for your conveyancing in Timsbury is a critical decision as your conveyancer is your adviser, and is the ONLY person in the process whose interest is to act in your legal interests and to protect you.

There is a distinct emergence of a "blame" culture- someone must be at fault for the process being so protracted. We recommend that you must always trust your lawyer above all other players when it comes to the legal transfer of property.

What does a local search reveal concerning the property I am buying in Timsbury?

Timsbury conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company such as Onsearch The local search plays a central role in most Timsbury conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search will reveal information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.

What does commercial conveyancing in Timsbury cover?

Timsbury conveyancing for business premises incorporates a broad range of services, offered by qualified solicitors, relating to business property. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.

I am a negotiator for a long established estate agency in Timsbury where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Timsbury conveyancing firms. Could you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.

I purchased a studio flat in Timsbury, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Timsbury with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease expires on 21st October 2075

With only 50 years left to run we estimate the premium for your lease extension to range between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.