My solicitor has discovered a a problem with the lease for the property we are purchasing in Copmanthorpe. The other side have put forward defective title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer has advised that he must be satisfied that the bank is willing to move forward with this solution. Are we the client or is the bank?

Even though you have a mortgage offer from the lender does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. These conveyancing instructions must be adhered to.

Are there restrictive covenants that are commonly identified during conveyancing in Copmanthorpe?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Copmanthorpe. 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…’

Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Copmanthorpe is where the house is located. Is there any advice you can give?

Flying freeholds in Copmanthorpe are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Copmanthorpe you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Copmanthorpe may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

I am looking at a couple of apartments in Copmanthorpe which have about forty five years left on the lease term. Will this present a problem?

There are plenty of short leases in Copmanthorpe. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the value of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field.

I invested in buying a garden flat in Copmanthorpe, conveyancing was carried out December 2008. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Copmanthorpe with a long lease are worth £186,000. The ground rent is £55 yearly. The lease comes to an end on 21st October 2076

With 51 years left to run the likely cost is going to be between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

I have been informed by various friends to expect 6-8 weeks for Copmanthorpe conveyancing to complete.This was a month ago. The draft contract was only sent to my lawyer yesterday so now does it countdown?

Six to 8 weeks is a very loose timescale. Giving assurances as to accurately how long Copmanthorpe conveyancing will take is an impossible task. Without fail every property will have it’s specific set of issues. Accordingly your property lawyer should find it difficult to guarantee an exact timeframe to complete conveyancing in Copmanthorpe.