What is the first thing I need to know concerning purchase conveyancing in Willenhall?

Not many law firms shout this from the rooftops but conveyancing in Willenhall and elsewhere in England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there is plenty of room for conflict between you and other parties involved in the transaction. For instance, the seller, selling agent and even potentially the mortgage company. Appointing a solicitor for your conveyancing in Willenhall should not be taken lightly as your conveyancer is your adviser, and is the SOLE person in the legal process whose interest is to look after your best interests and to keep you safe.

Sometimes a potential adversary may attempt to persuade you that it is in your interests to do things their way. As an example, the selling agent may claim to be helping by suggesting your solicitor is wrong. Or your mortgage broker may tell you to do take action that is contrary to your solicitors recommendation. You should always trust your lawyer above all other parties in the conveyancing process.

How does conveyancing in Willenhall differ for newly converted properties?

Most buyers of new build property in Willenhall approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Willenhall tend to acquire 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 Willenhall or who has acted in the same development.

Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Willenhall I like with open areas and station in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Willenhall for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?

Should you need a home loan that many years will be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.

Can you provide any top tips for leasehold conveyancing in Willenhall with the intention of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Willenhall can be bypassed if you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the buyers’ solicitors.
You may think that you are aware of the number of years remaining on your lease but you should verify this via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you hold a share in a the Management Company, you should make sure that you are holding the original share certificate. Organising a re-issued share certificate is often a time consuming formality and slows down many a Willenhall home move. If a new share certificate is needed, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible. In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Willenhall state that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such works. Should you fail to have the consents in place do not communicate with the landlord without checking with your lawyer first. A minority of Willenhall leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.

I acquired a leasehold flat in Willenhall, conveyancing was carried out 4 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Willenhall with a long lease are worth £185,000. The ground rent is £65 yearly. The lease comes to an end on 21st October 2085

You have 60 years remaining on your lease we estimate the price of your lease extension to span between £20,000 and £23,000 as well as costs.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.

Is planning permission required to change a single dwelling into multiple appartments in Willenhall? This has been done to a house adjacent to my home in Willenhall and was unaware of it happening until the works were finished.

Planning consent is required for converting a single house in Willenhall into apartments but possibly not for reverting once again to single dwelling-house so, simply put, yes.