We are purchasing a 2 bedroom apartment in Skellingthorpe with a mortgage. We have a Skellingthorpe solicitor, but the lender advise she’s not on their "panel". It appears that we have little choice but to instruct one of the lender panel firms or keep our Skellingthorpe and pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?

Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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. A further alternative is for your Skellingthorpe conveyancing lawyer to apply to be on the conveyancing panel.

My colleague advised me that if I am buying in Skellingthorpe I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?

This is a search is occasionally included in the estimate for your Skellingthorpe conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Skellingthorpe around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Skellingthorpe Education with maps and statistics, Local Amenities and other useful information regarding Skellingthorpe.

I am looking for a flat up to £305k and found one round the corner in Skellingthorpe I like with a park and transport links in the vicinity, however it only has 51 remaining years left on the lease. I can't really find anything else in Skellingthorpe suitable, so just wondered if I would be making a mistake acquiring a short lease?

Should you require a mortgage that many years may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.

Am I best advised to instruct a Skellingthorpe conveyancing practitioner who is local to the property I am purchasing? I have an old university friend who can perform the conveyancing however his firm is located over three hundred miles drive away.

The primary upside of using a high street Skellingthorpe conveyancing practice is that you can pop in to execute paperwork, deliver your identification documents and pester them where appropriate. They will also have local knowledge which is a plus. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and they were impressed that must trump using an unknown Skellingthorpe conveyancing lawyer solely due to them being local.

I am attracted to a two apartments in Skellingthorpe both have approximately fifty years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Skellingthorpe is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. For most purchasers and banks, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Skellingthorpe conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Skellingthorpe Conveyancing for Leasehold Flats - Examples of Queries before buying

Does the lease include onerous restrictions? It is important to be aware if redecorating or some other major work is due shortly to be shared between the leaseholders and will dramatically impact the level of the service costs or require a one time payment. How much is the annual maintenance fee and ground rent?