What is the optimum way to find out if the solicitor carrying out my conveyancing in Market Harborough is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for thus spending £187.00 plus VAT in supplemental legal fees.

You should take advantage of the find a lender approved solicitor tool on this site. Pick the mortgage company and type ‘Market Harborough’ or your location and you will see a number of lawyer based in Market Harborough or by proximity to you.

Are there restrictive covenants that are commonly picked up during conveyancing in Market Harborough?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Market Harborough. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

Over the last few months I have been searching for a flat up to £245,000 and found one close by in Market Harborough I like with amenity areas and transport links nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Market Harborough suitable, so just wondered if I would be making a grave error buying a lease with such few years left?

Should you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years 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 and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.

My wife and I purchased a leasehold flat in Market Harborough. Conveyancing and mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Market Harborough who acted for me is not around. Do I pay?

First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Market Harborough conveyancing firm to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Market Harborough Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing

You should be aware that where the lease has fewer than eighty years it will have adverse implications on the salability of the flat. 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 almost definitely need a lease extension sooner rather than later and it is worth discovering what this would cost. For most Market Harboroughlease extensions you will be required to have been the owner of the residence for 24 months in order to be entitled to carry out a lease extension. The majority of Market Harborough leasehold properties will incur a service charge for the upkeep of the block invoiced by the landlord. If you purchase the property you will have to meet this charge, usually periodically during the year. This can be anything from two or three hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all probability there will be a rentcharge for you to pay yearly, ordinarily this is not a exorbitant sum, say about £50-£100 but you need to check it because sometimes it could be prohibitively expensive. It would be sensible to investigate if there are any onerous restrictions in the lease. By way of example it is reasonably common in Market Harborough leases that pets are not allowed in certain buildings in Market Harborough. If you like the apartmentin Market Harborough however your cat can’t live with you then you will be presented with a hard compromise.

I am in the process of buying my 1st property in Market Harborough. Conveyancing practitioner already instructed. The financial consultant advised that a survey is not appropriate as the property is only 17 years old.

As the bare minimum you need a Home Buyer's Report. As the residence was built more than a decade ago the property will not benefit from a warranty, so you don't want to take a risk. Where a property of this age shows no signs of problems a Home Buyer's report may be sufficient. The report should highlight any apparent problems and recommend additional investigation if relevant. Where there are any indications of material issues get a full structural survey.