My wife and I are looking to buy a house in Ilminster and have instructed a Ilminster conveyancing practice. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Coventry Building Society have this afternoon contacted us to advise us that there is now an issue as our Ilminster lawyer is not on their approved list of lawyers. What do we do from here?

Where you are buying a property with the assistance of a mortgage it is normal for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Ilminster solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.

How up to date is your database of Ilminster solicitors on the UBS conveyancing panel? Do UBS send you an updated list?

Ilminster conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.

I am buying a house and need a conveyancing solicitor in Ilminster who is on the Platform Home Loans Ltd conveyancing. Can you recommend a local firm?

Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Platform Home Loans Ltd in certain locations such as Ilminster. We dont recommend any particular firm.

I opted to have a survey completed on a property in Ilminster ahead of instructing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some lenders will refuse to issue a mortgage on this type of house.

It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ilminster. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ilminster to see if the conveyancing will be more expensive.

When it comes to leasehold conveyancing in Ilminster what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Ilminster. All leases are unique and legal mistakes in the legal wording can result in certain sections are wrong. The following missing provisions could result in a defective lease:

Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Mortgage Works, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

I purchased a studio flat in Ilminster, conveyancing having been completed 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Ilminster with a long lease are worth £181,000. The ground rent is £55 per annum. The lease ends on 21st October 2074

With 50 years remaining on your lease we estimate the premium for your lease extension to be between £31,400 and £36,200 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.