We are expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would much rather use a local conveyancing solicitor in Aspley Guise?

Do check but the the likelihood is that give you one of their panel solicitors where you take up the "fee-free" offer. Contact the lender and see if they allow a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Aspley Guise.

Forgive me if this question is silly but I am wet behind the ears as a first time purchaser of a garden flat in Aspley Guise. Do I collect the keys to the property on the completion date from my solicitor? If so, I will use a High Street conveyancing solicitor in Aspley Guise?

On the day of completion you will not be required to attend the conveyancers office in Aspley Guise. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's conveyancers, and shortly after the monies have arrived, you should be able to collect the keys from the selling Agents and move into your new home. Usually this happens early afternoon.

I am being advised by my solicitor that lack of building regulations insurance is needed on my purchase. What is the level of cover for Aspley Guise conveyancing?

The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between Santander and Leeds Building Society. Conveyancing lawyers as opposed to borrowers take out such insurances.

At last I have had an offer on a flat in Aspley Guise accepted, but there is a chain. The sellers have offered on a property, however it’s not yet agreed to, and have viewings of other apartments booked. I have instructed a bricks and mortar conveyancing solicitor in Aspley Guise. What should be my next step? At what stage should I apply for the mortgage with Virgin Money?

It is usual to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is approx one thousand pounds, then valuation, Aspley Guise conveyancing search charges, etc). The first course of action is to check that your solicitor is on the Virgin Money conveyancing panel. Regarding the next stages this very much depends on the uniqueness of your case, attraction to this property and on the state of the market. During a buoyant market the majority of purchasers would apply for a home loan with Virgin Money and arrange for the valuation and only if it was satisfactory would they pay their conveyancer to proceed with searches.

I am looking for a ground for flat up to £235,500 and found one close by in Aspley Guise I like with open areas and railway links in the vicinity, however it only has 61 years on the lease. There is not much else in Aspley Guise suitable, so just wondered if I would be making a grave error buying a short lease?

Should you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.

I am employed by a reputable estate agency in Aspley Guise where we have witnessed a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Aspley Guise conveyancing firms. Can you clarify whether the seller of a flat can commence the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as 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.

Aspley Guise Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing

If a Aspley Guise lease has fewer than eighty years it will impact the value of the property. Check with your lender that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this will be. Remember, in most cases you would be be obliged to have been the owner of the property for two years in order to be entitled to carry out a lease extension. What is the maintenance charge and ground rent on the property?

After what seems like an age I have had an offer on an apartment in Aspley Guise agreed to, the owner does however have a connected purchase. The vendors have submitted an offer on a property, however it’s not been accepted yet, and has viewings of other properties booked. I have chosen a local conveyancing lawyer in Aspley Guise. What do I do now? At what stage should I apply for the mortgage with Clydesdale?

It is normal to have anxieties where there is an associated chain as you are unlikely to want to incur expenses too early (home loan application is in the region of £1k, then valuation, Aspley Guise conveyancing search costs, etc). The first course of action is to check that your conveyancer is on the Clydesdale conveyancing panel. Regarding the subsequent stages this very much dictated by the uniqueness of your case, desire for this property and on the state of the market. In a hot market some purchasers will apply for the mortgage with Clydesdale and pay for the survey and only if it was satisfactory would they pay their conveyancing practitioner to press on with searches.