Me and my partner are purchasing a 1 bedroom apartment in Great Ayton with a mortgage. We would like to retain our Great Ayton lawyer, however the bank says she’s not on their "panel". It seems we have no choice but to appoint one of the lender panel conveyancing practices or retain our Great Ayton solicitor as well as pay for one of their panel firms to act for them. We feel that this is unjust; is there anything we can do?

Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Great Ayton conveyancing solicitor to apply to be on the conveyancing panel.

Our mortgage company has recommended solicitors on their panel based in Great Ayton but I would rather choose a conveyancing lawyer in Great Ayton local to me. Are you able to help?

Far from all Great Ayton conveyancing firms are on all lender’s conveyancing panel. Please make use of the above find an approved solicitor tool to identify a Great Ayton conveyancing firm on the on the lender panel.

How does conveyancing in Great Ayton differ for newly converted properties?

Most buyers of new build or newly converted property in Great Ayton contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Great Ayton tend to acquire 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 conveyancing solicitors 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 Great Ayton or who has acted in the same development.

My husband and I are first time buyers - agreed a price, but the selling agent informed us that the vendor will only move forward if we use their chosen lawyers as they are insisting on a ‘quick sale’. We would rather use a local solicitor who is familiar with conveyancing in Great Ayton

It is unlikely the vendors are behind this. Should the owner require ‘a quick sale', alienating a serious purchaser is likely to cause more damage than good. Avoid the agents and go straight to the sellers and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you are going to instruct your own,trusted Great Ayton conveyancing solicitors - as opposed tothose that will provide the negotiator at the agency a commission or achieve conveyancing thresholds pre-set by senior management.

I am attracted to a couple of maisonettes in Great Ayton which have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Great Ayton. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the saleability of the lease deteriorates and it becomes more costly to extend the lease. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena.

Leasehold Conveyancing in Great Ayton - A selection of Queries Prior to buying

Where a Great Ayton lease has no more than 80 years it will affect the salability of the apartment. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably have to extend the lease at some point and it is worth finding out what this would cost. Remember, in most cases you will need to own the premises for a couple of years in order to be eligible to exercise a lease extension. The answer will be helpful as a) areas could result in problems in the building as the common areas may begin to deteriorate where services are not paid for b) if the tenants have an issue with the managing agents you will need to know about it Many Great Ayton leasehold apartments will incur a service bill for maintenance of the building set by the management company. Should you purchase the flat you will have to pay this contribution, usually in instalments accross the year. This could vary from a couple of hundred pounds to thousands of pounds for buildings with lifts and large common grounds. There will also be a ground rent to be met yearly, ordinarily this is not a significant sum, say approximately £25-£75 but you need to check it because on occasion it could be many hundreds of pounds.