I am considering applying for a Virgin Money mortgage for purchase of a newly converted (under development) in Grantham with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?

There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.

What is the difference between a licensed conveyancer and conveyancing solicitor in Grantham

Two types of professional can carry out conveyancing in Grantham namely licenced conveyancers or solicitors. The two can provide conveyancing services that required to complete the sale or purchase of property. They are both duty bound to carry out Grantham conveyancing to the same quality and guidelines so you can be sure that your conveyancing will be professionally conducted and that the requisite steps should be correctly attended to.

My father informed me that in purchasing a property in Grantham there could be a number of restrictions prohibiting external alterations to a property. Is this right?

There are a number of properties in Grantham which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Grantham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

My partner and I have arranged the release of further funds on our home loan from Aldermore as we intend to carry out a loft conversion to our property in Grantham. Do we need to select a high street Grantham solicitor on the Aldermore conveyancing panel to handle the legals?

Aldermore don't usually require a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore conveyancing panel.

Due to the input of my in-laws I had a survey completed on a house in Grantham ahead of retaining lawyers. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some lenders may not grant a mortgage on a flying freehold property.

It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you contact us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Grantham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Grantham to see if the conveyancing costs will increase in light of this.

I'm remortgaging my current property to a buy to let mortgage with Leeds Building Society and I will use the ballance of the raised equity as a down payment on further property. The neighborhood we are interested in is Grantham. Will your conveyancers be able to act for both sets of lenders and tie in the two deals?

Make use of our search tool on this site to check that the conveyancers are on the appropriate lender panels. On the basis that they are the lawyer will be able to connect the two conveyancing matters but you should talk with you conveyancer and make apparent your expectations and requirements.

I've recently bought a leasehold flat in Grantham. Am I liable to pay service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I own a garden flat in Grantham, conveyancing having been completed 3 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Grantham with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2078

With 53 years unexpired we estimate the price of your lease extension to span between £27,600 and £31,800 as well as costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.