My partner and I are hoping to buy a house in Tamworth and have appointed a Tamworth conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Clydesdale have this morning contacted us to advise us that they have now hit a problem as our Tamworth solicitor is not on their conveyancing panel. Is this a problem?

If you are buying a property needing a mortgage it is normal for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Tamworth lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.

It has been five months since my purchase conveyancing in Tamworth completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I have been on the look out for a leasehold apartment up to £235,500 and identified one round the corner in Tamworth I like with a park and station nearby, the downside is that it's only got 52 years on the lease. I can't really find anything else in Tamworth in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?

Should you need a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.

I am a negotiator for a long established estate agency in Tamworth where we have experienced a few leasehold sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Tamworth conveyancing solicitors. Can you confirm whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Tamworth Leasehold Conveyancing - Sample of Questions you should consider before Purchasing

Is there a share of the freehold? The prefered form of lease structure is a share of the freehold. In this situation the leaseholders benefit from control and even though a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent retained by the leaseholders. In the main the outlay for major works tend not to be wrapped into the service charges, albeit that there some managing agents in Tamworth obliged leaseholders to pay into a sinking fund and this is used to offset against major repairs or maintenance.

After what seems like an age a loan offer from a lender for the refinancing of my 2 bedroom maisonette is due within the next few days. Can you suggest an efficient remortgage conveyancing practitioner in Tamworth ?

This site is not designed to help in pursuit of the lowest fares for conveyancing in Tamworth. Our aim is to provide excellent value conveyancing but we do not aim to advertise as being the cheapest. Resist the temptation to appoint brokers offering £99 conveyancing in Tamworth.At best, in opting for cheap conveyancing, you will end up with what you pay for and at worst you will end up paying a lot in extras and still not receive the service expected.