I am considering applying for a Kent Reliance mortgage for purchase of a newly converted (under development) in Moor Row with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Kent Reliance ?

In theory, you could use a solicitor that is not on the Kent Reliance conveyancing panel, but Kent Reliance would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.

We previously chose conveyancing lawyers locally in Moor Row on the Nationwide solicitor panel. They have just billed me a supplemental amount for handling the Nationwide mortgage. Is this an additional conveyancing fee specified by Nationwide?

Provided it is contained in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to charge a fee for this. This fee is not set by Nationwide but by your Moor Row lawyer. Plenty of firms on the Nationwide panel will levy an ‘acting for lender’ fee but many firms include it on their overall fee.

We are getting the release of further funds on our home loan from Leeds Building Society as we wish to carry out alterations to our property in Moor Row. Do we need to select a nearby Moor Row solicitor on the Leeds Building Society conveyancing panel to deal with the legals?

Leeds Building Society don't usually instruct firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society conveyancing panel.

Last month we had a mortgage agreed in principle with Principality. Moor Row conveyancing lawyers are selected. How long does it take for Principality to send the offer to the property lawyer?

Some lenders take longer than others. Have Principality done the survey? Have you advised Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.

Will our lawyer be raising enquiries concerning flooding as part of the conveyancing in Moor Row.

Flooding is a growing risk for conveyancers carrying out conveyancing in Moor Row. Plenty of people will buy a property in Moor Row, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.

Lawyers are not best placed to impart advice on flood risk, however there are a various searches that can be initiated by the buyer or by their lawyers which can figure out the risks in Moor Row. The conventional set of information supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) includes a standard inquiry of the owner to determine if the property has historically flooded. If the residence has been flooded in past and is not disclosed by the vendor, then a purchaser could bring a compensation claim as a result of such an incorrect response. A purchaser’s lawyers may also order an enviro report. This should disclose if there is any known flood risk. If so, further investigations will need to be made.

I am purchasing a new build house in Moor Row with a loan from Virgin Money. The developers refused to budge the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not to tell my solicitor about this side-deal as it may impact my loan with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

What are the frequently found deficiencies that you encounter in leases for Moor Row properties?

There is nothing unique about leasehold conveyancing in Moor Row. All leases are individual and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

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 can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Norwich and Peterborough Building Society, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

I am the registered owner of a studio flat in Moor Row, conveyancing having been completed 3 years ago. How much will my lease extension cost? Comparable flats in Moor Row with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease runs out on 21st October 2099

With only 74 years left to run the likely cost is going to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.