Please explain the implications if my lawyer’s firm is expelled from the Virgin Money Solicitor panel ahead of completing my conveyancing in Frome?

The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

My bid for a property was accepted at auction in Frome. Conveyancing is needed. What is next?

Given that you have now for all intents and purposes signed on the dotted line you now have to appoint a conveyancing solicitor quickly as you will have a tight a drop dead date to complete the conveyancing. Every auction property will ordinarily have a corresponding legal set of papers. This will include most,if not all of the paperwork that your conveyancer requires. Where you are dealing with leasehold property the conveyancing papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You need to give this to your appointed conveyancing solicitor ASAP. You also need to ensure that you have funds in order to complete the transaction on the set completion date.

How can we know in advance if a Frome conveyancing solicitor on the Clydesdale panel is any good?

When it comes to conveyancing in Frome seeking recommendations is a good 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 which is cheap as chips. We would always advocate that you speak with the lawyer carrying out your transaction.

It is not clear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Frome building society branch on various occasions and was told it does not impact the mortgage offer and they would lend. My Frome conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?

The solicitor has to follow the Council of Mortgage Lenders’ Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

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

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

What are your top tips when it comes to finding a Frome conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Frome conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Frome conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be useful:

How experienced is the firm with lease extension legislation? What are the costs for lease extension work?

I own a 1 bedroom flat in Frome, conveyancing was carried out in 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Frome with over 90 years remaining are worth £186,000. The ground rent is £55 levied per year. The lease ceases on 21st October 2077

With 52 years unexpired we estimate the premium for your lease extension to span between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.

The mortgage broker has suggested using their lawyer for my conveyancing in Frome - Surely it’s easier to just instruct them?

You need to establish if the estate agent is recommending a lawyer or introducing to a lawyer. There are plenty of Frome estate agents who recommend two or three Frome conveyancing firms purely based on those lawyers offering a great service.