I am in the process of mortgaging my apartment in Atherstone, does my lawyer need to be on the Kent Reliance Solicitor panel?

In theory, you could use a solicitor that is not on the Kent Reliance conveyancing panel, but Kent Reliance would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.

What can a local search tell me about the property my wife and I purchasing in Atherstone?

Atherstone conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company such as Searches UK The local search is essential in every Atherstone conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your new home. The search will supply data on, amongst other things, details on planning applications applicable 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 13 topic areas.

I am buying my first flat in Atherstone with a loan from Platform Home Loans Ltd. The sellers refused to budge the amount so I negotiated £7000 of additionals instead. The house builders rep told me not inform my solicitor about the extras as it would jeopardize my loan with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I am attracted to a two maisonettes in Atherstone which have in the region of 50 years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Atherstone is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most purchasers and mortgage companies, leases with less than 75 years become less and less marketable. 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 premises 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 Atherstone 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 the agreed 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.

Atherstone Leasehold Conveyancing - A selection of Queries Prior to Purchasing

The prefered form of lease arrangement is a share of the freehold. In this arrangement the leaseholders benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently retained if it is bigger than a house conversion, the managing agent is directed by the tenants. Its a good idea to find out as much as you can about the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to practical matters such as the cleanliness of the communal areas. Ask other people if they are happy with their service. Finally, be sure you discover the dates that the service charges are due to the appropriate party and specifically what you get for your money. Are there any major works in the planning that will likely increase the service fees?

Our bank agreed in principle to issue us a mortgage. We appointed a reputable conveyancer in Atherstone two days ago. This morning, our mortgage adviser phoned to advise us that the mortgage company said that we cannot use our solicitor as they aren't on their 'approved list'. As FTB's, we had no idea that the lender had a say Is this legal?

You are permitted to choose any lawyer you prefer to choose including the said conveyancer in Atherstone but if they are not on the your lender's approved list you must incur additional cost so the bank can instruct their own conveyancer too. On occasion it is conceivable that your preferred conveyancing firm to get added to the lender list of approved firms. Do make the most of web-based tools such as lenderpanel.com to find a conveyancing solcitor in Atherstone on the lender panel. You can go into your local mortgage company branch in Atherstone. They will know some good conveyancing solicitors in Atherstone on the panel for your mortgage company.