Our lawyer has discovered a defect with the lease for the flat we are buying in Bridport. The seller’s lawyers have put forward defective title insurance as a solution. We are content with insurance and will pay for it. Our conveyancer has advised that he must be satisfied that the bank is content with this solution. Who is the client here, us or the lender?

Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the mortgage company are the client. These conveyancing instructions have to be complied with.

I am planning to move house in May. Does my conveyancing solicitor call the removal company on the completion day. As an aside, can you suggest a removal company in Bridport. Conveyancing firm was found prior to coming across this site.

On the day of completion you will need to collect the house keys from the selling agent but this should only be done when the vendors lawyers inform the agent that the monies to complete are in and the keys can be passed over. You can tell the removal company that they can start moving you in. As a matter of policy we do not suggest a particular removal organisation but can help you locate a conveyancing in Bridport or a lawyer with expertise in conveyancing in Bridport.

I am expecting a DIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Bridport solicitors on the Virgin Money conveyancing panel, or is it better to go independently?

You will need to appoint Bridport solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.

It is unclear whether my bank requires a lease extension. I have called my Bridport bank branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Bridport conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.

Provided that the property lawyer is on the mortgage company panel, she or he must follow the Council of Mortgage Lenders’ Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

My relative advised me that if I am buying in Bridport I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

A search of this type is occasionally quoted for as part of the standard Bridport conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Bridport around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information concerning Bridport.

I'm buying my first flat in Bridport with a mortgage from Skipton Building Society. The sellers would not budge the amount so I negotiated £7000 of additionals instead. The house builders rep told me not reveal to my lawyer about this extras as it may jeopardize my mortgage with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the developer 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 attracted to a two apartments in Bridport both have approximately forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Bridport is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most purchasers and banks, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bridport conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Bridport Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing

How many years remain on the lease? The prefered form of lease arrangement is if the freehold interest is in the ownership of the leaseholders. In this scenario the tenants have being in charge if their destiny and notwithstanding that a managing agent is usually employed where it is larger than a house conversion, the managing agent employed by the leaseholders. How much is the service charge and ground rent on the flat?