Unfortunately I am unable to travel far from Heaviley and Offerton. Can you please explain the reason why all Heaviley and Offerton solicitors are not on all mortgage company panels?

Pre- 2008 most mortgage companies displayed an approach to risk which differs from the current day. The FSA in 2010 carried out a thematic review into fraud which in summary warned lenders: know the property lawyers on your panel. As a result, lenders have since looked to extract more data from law firms concerning their processes and the individuals employed by them and set certain criteria such as completing a minimum amount of transactions. Thousands of firms have been excluded from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the minimum amount of transactions the lenders required.

I am buying a house for cash in Heaviley and Offerton. I have been living for the last Seventeen years in Heaviley and Offerton. Conveyancing searches are expensive. As I have knowledge of the area and road intimately should I not bother getting the solicitor to do all the conveyancing searches?

In the absence of a mortgage, then the vast majority of the Heaviley and Offerton conveyancing searches are optional. Your lawyer will 'advise', no-doubt strongly, that you should have searches carried out, but she has a professional duty to do this. One thing to bear in mind; if you are likely to dispose of the house in the future, it will be of interest to your future purchaser what the searches reveal. There are plenty of instances where houses with day to day issues can still throw up negative search results. A competent conveyancing solicitor in Heaviley and Offerton will be able to give you some practical guidance concerning this.

Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Heaviley and Offerton is where the house is located. Can you shed any light on this issue?

Flying freeholds in Heaviley and Offerton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Heaviley and Offerton you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Heaviley and Offerton may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

Should I be concerned about estate agents that I am dealing with are encouraging me to use a nationwide conveyancing firm as opposed to a High Street Heaviley and Offerton conveyancing company?

As with many professional services, often input from family and friends can be worth their weight in gold. But there are numerous parties with a vested interest in a conveyancing deal; estate agents, financial adviser and mortgage companies might all suggest conveyancers to choose. On occasion the conveyancers might be known to one of the organisations as being good in their field, but occasionally there is an underlying financial incentive behind the endorsement. You have the discretion to appoint your own lawyer. However, bear in mind that many lenders specify a panel list of solicitors you have to use for the lender aspect of your house move.

Are there common problems that you witness in leases for Heaviley and Offerton properties?

Leasehold conveyancing in Heaviley and Offerton is not unique. All leases are drafted differently and drafting errors can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

A provision for the recovery of money spent for the benefit of another party. Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, The Mortgage Works, and Britannia all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

I own a ground floor flat in Heaviley and Offerton, conveyancing formalities finalised in 2010. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Heaviley and Offerton with a long lease are worth £181,000. The ground rent is £55 invoiced every year. The lease ends on 21st October 2075

With just 50 years remaining on your lease we estimate the price of your lease extension to span between £31,400 and £36,200 as well as legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.