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

In theory, you could use a solicitor that is not on the TSB conveyancing panel, but TSB would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.

It has been three months following my purchase conveyancing in Great Harwood completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I decided to have a survey carried out on a property in Great Harwood in advance of appointing conveyancers. I have been advised that there is a flying freehold element to the house. My surveyor advised that some banks will refuse to give a loan on such a premises.

It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. Should you wish to call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Great Harwood. Conveyancing will be smoother if you use a solicitor in Great Harwood especially if they are acquainted with such properties in Great Harwood.

As co-executor for the estate of my uncle I am selling a property in Neath but live in Great Harwood. My conveyancer (who is 250 kilometers from mehas requested that I sign a statutory declaration ahead of completion. Can you recommend a conveyancing solicitor in Great Harwood to attest and place their company stamp on the document?

Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will be fine regardless of whether they are based in Great Harwood

I am tempted by the attractive purchase price for a couple of flats in Great Harwood both have in the region of fifty years left on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Great Harwood is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most buyers and banks, leases with under 75 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 a residence 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 Great Harwood 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Leasehold Conveyancing in Great Harwood - A selection of Queries Prior to buying

It would be prudent to discover as much as possible concerning the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to practical issues like the tidiness of the communal areas. Don't be shy to ask other people whether they are happy with them. In conclusion, be sure you know the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what you get for your money. Many Great Harwood leasehold properties will incur a service charge for the upkeep of the block set on behalf of the landlord. If you buy the property you will have to pay this contribution, usually quarterly throughout the year. This could be anything from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. In all likelihood there will be a ground rent to be met yearly, ordinarily this is not a significant figure, say about £25-£75 but you need to enquire it because occasionally it can be surprisingly expensive. Please tell me if there are any major works anticipated that will increase the service charges?