Can you clarify what the consequences are if my lawyer’s firm is suspended from the Skipton Solicitor panel ahead of completing my conveyancing in Codsall?

First, this is very unlikely to happen. 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.

Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Codsall is where the house is located. Can you offer any guidance?

Flying freeholds in Codsall are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Codsall you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Codsall may ascertain 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 premises.

I'm remortgaging my existing house to a buy to let loan with Barnsley Building Society and intend to use the remaining equity as a down payment on another house. The neighborhood we are interested in is Codsall. Will your lawyers be able to act for the two lenders and link together the transactions?

Do use our search tool on this page to be sure that the solicitors are approved by both banks. Assuming that they are the lawyer will be able to simultaneously deal with the two transactions but you should talk with you conveyancer and specify your desired outcome and needs.

I need to find a conveyancing solicitor for leasehold conveyancing in Codsall. I've land on a web site which appears to be the ideal solution If it is possible to get all formalities completed via web that would be preferable. Do I need to be concerned? What are the potential pitfalls?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I am attracted to a couple of maisonettes in Codsall which have approximately 50 years remaining on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Codsall is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most buyers and lenders, leases with under 75 years become less and less attractive. 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 property 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 Codsall 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.

I acquired a studio flat in Codsall, conveyancing was carried out May 2012. Can you work out an approximate cost of a lease extension? Similar properties in Codsall with a long lease are worth £185,000. The ground rent is £65 per annum. The lease comes to an end on 21st October 2084

You have 60 years unexpired we estimate the premium for your lease extension to be between £20,000 and £23,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.