My husband and I are planning to purchase a home in Gainsborough and are in fact using a Gainsborough conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. have this afternoon contacted us to advise us that there is now an issue as our Gainsborough solicitor is not on their conveyancing panel. Please explain?

When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Gainsborough lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.

Are the BSA planning on creating a online directory to list law firms on the conveyancing panel for instance in Gainsborough?

We have not been informed any intention on the part of the BSA to promote such a tool.

How does conveyancing in Gainsborough differ for newly converted properties?

Most buyers of new build property in Gainsborough approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Gainsborough tend to buy 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 Gainsborough or who has acted in the same development.

I am using a search engine for the phrase on line conveyancing in Gainsborough it reveals numerous property lawyerslocally. How do I determine which is the right property lawyer for my move?

The best method of seeking a suitable conveyancer is via trusted recommendation, so enquire of friends and relatives who have purchased a property in Gainsborough or the reputable estate agent or financial adviser. Fees for conveyancing in Gainsborough differ, so it's a good idea to obtain at least four costs illustrations from varying types of companies. Make sure that you clarify that the fees are fixed.

I only have 72 years left on my lease in Gainsborough. I now wish to get lease extension but my freeholder is absent. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. On the whole a specialist may be helpful to conduct investigations and prepare a report which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court covering Gainsborough.

I acquired a garden flat in Gainsborough, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Gainsborough with over 90 years remaining are worth £165,000. The ground rent is £45 charged once a year. The lease runs out on 21st October 50

With just 50 years unexpired the likely cost is going to span between £36,100 and £41,800 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.