Me and my partner are hoping to buy a 3 bedroom flat in Sprowston with a mortgage. We have a Sprowston conveyancer, however the bank advise he's not on their "panel". It seems we have little choice but to appoint one of the bank panel firms or retain our Sprowston solicitor and pay for one of their panel ones to act for them. We regard this is inequitable; can we not demand that the lender use our Sprowston property lawyer ?

No, not really. 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 Sprowston conveyancing lawyer to apply to be on the conveyancing panel.

Do lawyers request money on account when it comes to conveyancing in Sprowston?

Where you are retaining lawyers for conveyancing in Sprowston your lawyer will ask you place them with monies to cover the the cost of the conveyancing searches. Ordinarily this is needed to cover the fees of the Local Authority Search. If any down payment is payable against the sale price then this will be required shortly ahead of contracts are exchanged. The final balance that is needed should be sent to your lawyer shortly before completion.

How does conveyancing in Sprowston differ for newly converted properties?

Most buyers of new build or newly converted property in Sprowston come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Sprowston 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 conveyancing solicitors 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 used to new build conveyancing in Sprowston or who has acted in the same development.

I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Sprowston I like with a park and transport links nearby, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Sprowston for this price, so just wondered if I would be making a mistake buying a short lease?

If you require a mortgage the remaining unexpired lease term may be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.

Back In 2001, I bought a leasehold flat in Sprowston. Conveyancing and Santander mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Sprowston who previously acted has long since retired. Any advice?

The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. You do not need to instruct a Sprowston conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Leasehold Conveyancing in Sprowston - Sample of Queries before buying

How much is the ground rent and service charge? What is the name of the managing agents? Be sure to investigate if there are any onerous restrictions in the lease. By way of example it is reasonably common in Sprowston leases that pets are not allowed in certain buildings in Sprowston. If you love the propertyin Sprowston but your cat is not allowed to live with you then you will be presented with a difficult decision.