Our Buxton solicitor has uncovered a difference when comparing the assumptions in the valuation survey and what is in the title deeds. My lawyer informs me that he needs to ensure that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance appropriate?

Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.

What is the first thing I need to know concerning purchase conveyancing in Buxton?

You may not hear this from too many lawyers but conveyancing in Buxton or throughout England and Wales is an adversarial experience. Put another way, when it comes to conveyancing there exists lots of opportunity for conflict between you and other parties involved in the transaction. E.g., the seller, selling agent and sometimes your bank. Appointing a lawyer for your conveyancing in Buxton should not be taken lightly as your conveyancer is your adviser, and is the ONE party in the legal process whose interest is to protect your best interests and to keep you safe.

Sometimes a potential adversary may attempt to convince you that you should follow their advice. As an example, the property agent may claim to be assisting by claiming that your lawyer is dragging his heels. Or your mortgage broker may advise you to do take action that is contrary to your lawyers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.

Forgive me if this question is silly but I am unseasoned as a 1st time purchaser of a garden flat in Buxton. Do I pick up the keys to the house on the completion date from my lawyer? If this is the case, I will find a local conveyancing solicitor in Buxton?

There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the seller's conveyancers, and once they have received this, you should be invited to collect the keys from the selling Agents and move into your new home. Usually this happens between 1 and 3pm.

Two weeks ago we had a mortgage agreed in principle with Coventry BS. Buxton conveyancing practitioners have been instructed. How long does it take for Coventry BS to issue the offer to the solicitor?

Some lenders take longer than others. Have Coventry BS done the survey? Have you advised Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.

About to purchase apartment in Buxton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Aldermore conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Buxton property lawyer is on the Aldermore conveyancing panel.

I require fast conveyancing in Buxton as I have an ultimatum to complete in less than one month. A mortgage is not required. Can I avoid the conveyancing searches to save fees and time?

As you are are a cash buyer you have the choice not to do searches although no law firm would suggest that you don't. With plenty of history conveyancing in Buxton the following are instances of what can show up and adversely affect market value: Enforcement Notices, Overdue Fees, Outstanding Grants, Unadopted Roads,...

I am looking at a two maisonettes in Buxton which have about 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Buxton is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of buyers and lenders, leases with less than eighty years become less and less marketable. On a more positive 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 a property 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 Buxton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.

Buxton Leasehold Conveyancing - A selection of Queries before Purchasing

How much is the ground rent and service charge? This information is important as a) areas can result in problems in the block as the communal areas may begin to deteriorate where maintenance are not paid for b) if the leasehold owners have an issue with the managing agents you will wish to know about it