I have just been advised by my mortgage adviser that my Haverhill solicitor is not on the bank Conveyancing panel. How can I check?

The first thing you need to do is to call your Haverhill conveyancer. It is reasonable to expect your lawyer to inform you of the situation. Where they are not on the panel they may be able to suggest a Haverhill conveyancing practice that is on the approved list of lawyers for your bank.

we are a couple who are buying a 3 bedroom apartment in Haverhill with a loan from Skipton Building Society.We have a Haverhill conveyancing solicitor but Skipton Building Society advised that his firm is not listed on their "panel". We have to appoint a Skipton Building Society panel lawyer or keep our high street solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?

No, not really. The mortgage issued to you contains terms and conditions, a common one being that lawyers needs to be on the Skipton Building Society solicitor panel. Until recently, most banks had large numbers of solicitors on their panels: a borrower could find 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 solicitors to apply to be on the conveyancing panel for Skipton Building Society

Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one near me in Haverhill I like with open areas and station nearby, however it's only got 52 remaining years left on the lease. I can't really find anything else in Haverhill suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you require a mortgage that many years will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.

What advice can you give us when it comes to appointing a Haverhill conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Haverhill conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with two or three firms including non Haverhill conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:

How experienced is the practice with lease extension legislation?

I inherited a garden flat in Haverhill, conveyancing having been completed 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Haverhill with a long lease are worth £216,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2094

You have 69 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 plus legals.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do 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. Neither should you take any other action based on this information before seeking the advice of a professional.

Is there a reason that Haverhill conveyancing charges are more expensive for leasehold and freehold properties?

Leasehold conveyancing in Haverhill will often involve additional due diligence such as investigating the lease, liaising with the freeholder, obtaining up to date rent receipts, landlord’s consents, management company’s accounts amongst other tasks.