Is there a reason why leasehold purchase conveyancing in Whittlesey costs more?

Whittlesey leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.

I have been told that property searches are a common cause of delay in Whittlesey conveyancing transactions. Is there any truth in this?

The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays in the conveyancing process. Local searches are not likely to be the root cause of slowing down conveyancing in Whittlesey.

Are there restrictive covenants that are commonly picked up during conveyancing in Whittlesey?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Whittlesey. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

Due to the input of my in-laws I had a survey completed on a house in Whittlesey in advance of retaining solicitors. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some lenders will refuse to issue a mortgage on this type of property.

It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. Should you wish to telephone us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Whittlesey. Conveyancing will be smoother if you use a solicitor in Whittlesey especially if they are accustomed to such properties in Whittlesey.

What advice can you give us when it comes to choosing a Whittlesey conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Whittlesey conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Whittlesey conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:

What volume of lease extensions have they completed in Whittlesey in the last 12 months? Can they put you in touch with clients in Whittlesey who can give a testimonial?

I am the registered owner of a 1 bedroom flat in Whittlesey, conveyancing formalities finalised in 2009. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Whittlesey with a long lease are worth £175,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease runs out on 21st October 2083

With just 58 years left to run we estimate the premium for your lease extension to range between £23,800 and £27,400 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be other 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.