I had intended to instruct a conveyancing solicitor in Lightwater for our house move. Our broker has since advised us that our mortgage company Yorkshire Building Society won't deal with them. Surely this is unduly restrictive?

Lenders normally imposes restrictions either the category or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a law practice must not be a sole practitioner. As well as restricting the profile of firm, some have reduced the number of solicitor practices they use to represent them. You should note that Yorkshire Building Society have no responsibility for the quality of advice provided by any member of Yorkshire Building Society Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels a few years ago even though there are differing views about the level of solicitor engagement in some of that fraud. Data from the Land Registry reveal that plenty of law firms, including some in or near Lightwater only carry out one or two conveyances a year.

We expect to receive a AIP from Nottingham this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nottingham recommend any Lightwater solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?

You will need to appoint Lightwater solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.

I have paid off my mortgage with Virgin Money. I assume I don't need a Lightwater solicitor on the Virgin Money panel to discharge the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Virgin Money has sent the Land Registry the discharge electronically, and
3. Virgin Money has instructed the Land Registry to do so

I can not fathom if my lender requires a lease extension. I have called into my local Lightwater building society branch on a couple of occasions and was informed it wasn't an issue and they will lend. My Lightwater conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend in accordance with their published requirements. Who do I believe?

As long as the lawyer is on the mortgage company approved list, they must follow the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

five months have elapsed following my purchase conveyancing in Lightwater completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

How does conveyancing in Lightwater differ for new build properties?

Most buyers of new build premises in Lightwater approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is completed. This is because house builders in Lightwater typically buy the real estate, 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 accustomed to new build conveyancing in Lightwater or who has acted in the same development.

I work for a long established estate agent office in Lightwater where we see a number of flat sales derailed as a result of short leases. I have received contradictory information from local Lightwater conveyancing solicitors. Can you shed some light as to whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Lightwater Leasehold Conveyancing - Sample of Questions you should consider before Purchasing

The majority of Lightwater leasehold apartments will be liable to pay a service bill for the upkeep of the building levied on behalf of the landlord. Should you acquire the property you will have to meet this charge, usually quarterly accross the year. This can be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all likelihood there will be a rentcharge for you to pay annual, normally this is not a large amount, say approximately £25-£75 but you should to enquire it because occasionally it can be many hundreds of pounds. This question is important as a) areas could cause problems in the block as the communal areas may start to deteriorate if services are not paid for b) if the tenants have an issue with the managing agents you will wish to know about it Does the lease have onerous restrictions?