Please explain the implications if my solicitor is expelled from the Leeds Building Society Solicitor panel ahead of completing my conveyancing in Wigston?

First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

Will our lawyer be raising questions about flooding as part of the conveyancing in Wigston.

Flooding is a growing risk for solicitors dealing with homes in Wigston. Plenty of people will purchase a house in Wigston, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.

Solicitors are not qualified to offer advice on flood risk, however there are a number of searches that may be carried out by the purchaser or by their lawyers which will give them a better appreciation of the risks in Wigston. The standard information given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to find out whether the premises has suffered from flooding. In the event that the residence has been flooded in past and is not disclosed by the seller, then a buyer could commence a legal claim for losses as a result of such an misleading response. The buyer’s lawyers should also conduct an environmental report. This should indicate whether there is a recorded flood risk. If so, more detailed investigations should be carried out.

I am purchasing my first flat in Wigston benefiting from help to buy. The builders refused to reduce the price so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not to tell my conveyancer about the extras as it will impact my loan with the lender. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I am in need of some leasehold conveyancing in Wigston. Before I get started I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Wigston - then the leasehold title will always include the basic details 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 own a ground floor flat in Wigston, conveyancing formalities finalised December 2004. How much will my lease extension cost? Comparable flats in Wigston with a long lease are worth £176,000. The ground rent is £50 yearly. The lease terminates on 21st October 2105

With only 80 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as costs.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

I today plan to offer on a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Wigston. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

The majority of houses in Wigston are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Wigston so you should seriously consider looking for a Wigston conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor will advise you fully on all the issues.