My conveyancer has uncovered a defect with the lease for the apartment we are purchasing in Askam In Furness. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must ensure that the lender is happy with this solution. Are we the client or is the bank?

The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

Do lawyers request money up-front when it comes to conveyancing in Askam In Furness?

Where you are retaining lawyers for conveyancing in Askam In Furness your lawyer will request that you to provide them with funds to cover the search fees. Ordinarily this is asked for to cover the fees of the Local Authority Search. If any deposit is payable against the sale price then this should be asked for immediately prior to contracts are exchanged. Any further balance that is needed should be transferred shortly before completion.

Do I have to visit the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Askam In Furness so that I can pop in to their offices when needed.

Whereas this was necessary twenty years ago, most lenders no longer require their conveyancing panel lawyer to witness the mortgagors signature. You will still be obliged to supply identification documents and there are still manifest advantages to choosing a locally based ayer, in your case a conveyancing solicitor in Askam In Furness.

Despite weeks of looking the Title Certificate and documents to our house can not be found. The solicitors who handled the conveyancing in Askam In Furness 4 years ago no longer exist. What are my next steps?

Assuming the title is registered the information relating to your proprietorship will be documented by HMLR with a Title Number. It is easy to execute a search at the Land Registry, locate your property and secure up to date copies of the property title for a small fee. If the property is Leasehold then the Land Registry will usually hold a certified copy of the Registered Lease and again, a copy can be obtained for twenty pounds.

Can you offer any advice when it comes to finding a Askam In Furness conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Askam In Furness conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Askam In Furness conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:

Can they put you in touch with clients in Askam In Furness who can give a testimonial? How familiar is the firm with lease extension legislation?

I own a 1 bedroom flat in Askam In Furness, conveyancing having been completed in 2003. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Askam In Furness with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 levied per year. The lease comes to an end on 21st October 2098

With 72 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.