My husband and I are hoping to buy a 1 bedroom apartment in Upton Upon Severn with a mortgage. We like our Upton Upon Severn conveyancer, however the lender says she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Upton Upon Severn lawyer and pay for one of their panel lawyers to represent them. This seems very unfair; is there anything we can do?

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 Upton Upon Severn conveyancing solicitor to apply to be on the conveyancing panel.

My fiance and I are purchasing a newbuild apartment in Upton Upon Severn with a homeloan from Leeds Building Society.We would like to retain our Upton Upon Severn conveyancing solicitor but Leeds Building Society informed us her practice is not on their approved list of firms. we are left little option but to use a Leeds Building Society panel solicitor or keep our local solicitor and fork out for one of their panel ones to act for them. This seems very unfair; is there anything we can do?

Unfortunately,no. The loan offered to you contains various provisions, a common one being that lawyers needs to be on the Leeds Building Society conveyancing panel. Until recently, most banks had large numbers of law firms on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for Leeds Building Society

Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Upton Upon Severn is the location of the property. Can you shed any light on this issue?

Flying freeholds in Upton Upon Severn are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Upton Upon Severn you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Upton Upon Severn may determine 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 residence.

I am on look out for some leasehold conveyancing in Upton Upon Severn. Before diving in I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Upton Upon Severn - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I invested in buying a 1 bedroom flat in Upton Upon Severn, conveyancing was carried out 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Upton Upon Severn with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease runs out on 21st October 2096

You have 71 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 plus professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.

My step-son is about to join the property ladder, the home loan was agreed last week in principle. After the offer was accepted on apartment we contacted the lender to issue the formal offer. I was very surprised to learn that mortgage lenders do not accept all conveyancer, they have to be on a list, is this legal?

Lenders ordinarily restrict either the type or the number of conveyancing practices on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Upton Upon Severn property lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.