My stepmother pointed out to me me that in purchasing a property in Willenhall there may be a number of restrictions preventing external alterations to a property. Is this right?

We are aware of anumerous of properties in Willenhall which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Willenhall should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

How can we tell if a Willenhall conveyancing solicitor on the Nationwide panel is any good?

When it comes to conveyancing in Willenhall getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor carrying out your conveyancing.

Planning on purchasing a maisonette in Willenhall. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Yorkshire BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Willenhall property lawyer is on the Yorkshire BS conveyancing panel.

How does conveyancing in Willenhall differ for newly converted properties?

Most buyers of new build premises in Willenhall approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because developers in Willenhall typically 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 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 used to new build conveyancing in Willenhall or who has acted in the same development.

Due to the input of my in-laws I had a survey completed on a property in Willenhall in advance of retaining lawyers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some lenders may not give a loan on a flying freehold home.

It varies from the lender to lender. HSBC has different requirements from Nationwide. Should you wish to call us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Willenhall. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Willenhall to see if the conveyancing costs will increase in light of this.

I am looking at a two maisonettes in Willenhall both have approximately forty five years unexpired on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Willenhall is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of purchasers and mortgage companies, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Willenhall conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Leasehold Conveyancing in Willenhall - Sample of Questions you should consider before Purchasing

If a Willenhall lease has no more than eighty years it will impact the marketability of the flat. Check with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease at some point and you need to have some idea of how much this would cost. Remember, in most cases you will need to own the residence for 24 months in order to be legally able to carry out a lease extension. Are any of leasehold owners in arrears of their service charge payments?

Do online conveyancing organisations do everything a local Willenhall solicitor does or must I use a solicitor for the final stages for my conveyancing in Willenhall?

If you choose an online conveyancer they should cover all the tasks your Willenhall conveyancer will cover.