Me and my partner are purchasing a 3 bedroom apartment in Southwell with a mortgage. We have a Southwell conveyancer, however the mortgage company advise she’s not on their "panel". We have to appoint one of the lender panel firms or continue with our Southwell solicitor as well as pay for one of their panel firms to represent them. We feel that this is inequitable; can we not require that the bank use our Southwell property lawyer ?

Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. Another option that might be available is for your Southwell conveyancing solicitor to apply to be on the conveyancing panel.

Various online forums that I have visited warn that are a common cause of hinderance in Southwell conveyancing transactions. Is that correct?

The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Southwell.

I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, chain free conveyancing. Southwell is the location of the property. Can you offer any opinion?

Flying freeholds in Southwell are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Southwell you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Southwell may decide 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.

Hoping to buy a property located in Southwell and I am already nervous. I couldn't find anything specific about Southwell. Conveyancing will be needed in due course but do you know about the Southwell area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Southwell. In the meantime here are some basic statistics that we found

Are there frequently found problems that you encounter in leases for Southwell properties?

Leasehold conveyancing in Southwell is not unique. Most leases are individual and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, The Royal Bank of Scotland, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

I purchased a 1 bedroom flat in Southwell, conveyancing formalities finalised April 2011. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Southwell with over 90 years remaining are worth £171,000. The ground rent is £50 charged once a year. The lease ends on 21st October 2104

You have 79 years left to run the likely cost is going to span between £7,600 and £8,800 plus professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.