I am nearing exchange of contracts for my home in Haslington and the EA has just e-mailed to say that the buyers are changing their law firm. I am told that this is due to the fact that the bank will only work with solicitors on their conveyancing panel. Why would a major lender only deal with specific solicitors rather the firm that they want to appoint for their conveyancing in Haslington ?

Banks have always had an approved set of law firms that can act for them, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.

Banks justify this action to a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.

Do lenders provide you with an approved list of Haslington conveyancing solicitors? How do you know who is on the Leeds Building Society conveyancing panel?

Haslington conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.

I have been on the look out for a leasehold apartment up to £235,500 and identified one close by in Haslington I like with open areas and railway links nearby, however it's only got 49 years on the lease. I can't really find anything else in Haslington for this price, so just wondered if I would be making a mistake buying a lease with such few years left?

Should you need a mortgage that many years may be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.

What does commercial conveyancing in Haslington cover?

Haslington conveyancing for business premises incorporates a broad array of guidance, supplied by regulated solicitors, relating to business property. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.

I am on look out for some leasehold conveyancing in Haslington. Before I get started I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Haslington - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Haslington Conveyancing for Leasehold Flats - Sample of Queries before Purchasing

The prefered form of lease structure is if the freehold interest is owned by the leaseholders. In this scenario the leaseholders enjoy being in charge if their destiny and even though a managing agent is usually employed where it is larger than a house conversion, the managing agent is directed by the tenants. Are there any major works in the planning that will increase the maintenance charges? Best to be warned if a new roof is being installed or some other significant cost is due in the foreseeable future to be shared by the leaseholders and may well dramatically increase the the maintenance fees or result in a specific invoice.