I am in the process of selling my maisonette in Kettering and the EA has just e-mailed to say that the buyers are changing their conveyancer. The excuse is that the bank will only deal with property lawyers on their approved list. On what basis would a big named lender only deal with certain solicitors rather the firm that they want to select to handle their conveyancing in Kettering ?

Lenders have always had an approved set of law firms they are content to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.

Mortgage companies justify this action to a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any sway in the decision.

My stepmother advised me that in buying a property in Kettering there could be various restrictions affecting the ability to carry out external alterations to a property. Is this right?

We are aware of anumerous of properties in Kettering which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Kettering should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

Does a directory service exist listing RBS panel conveyancers in Kettering on the UK Finance Lenders’ Handbook Website?

No. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. A small selection of banks make their panel listings viewable online. If you are looking for a Kettering lawyer on the RBS please use our facility.

Planning on purchasing a maisonette in Kettering. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nottingham 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 Kettering conveyancer is on the Nottingham conveyancing panel.

I opted to have a survey carried out on a property in Kettering ahead of retaining solicitors. I have been informed that there is a flying freehold element to the property. The surveyor has said that some mortgage companies may not grant a mortgage on this type of home.

It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you contact us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Kettering. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Kettering to see if the conveyancing will be more expensive.

I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Kettering. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

The majority of houses in Kettering are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Kettering in which case you should be shopping around for a Kettering conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your lawyer should appraise you on the various issues.

I bought a split level flat in Kettering, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Kettering with a long lease are worth £185,000. The ground rent is £65 invoiced every year. The lease runs out on 21st October 2084

With only 60 years remaining on your lease we estimate the price of your lease extension to range between £20,000 and £23,000 as well as legals.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.

I own a leasehold flat in Kettering. Conveyancing was completed in 21012. I have heard that I mustn’t let the lease length get too short. Is this right?

Kettering leasehold properties are for a prescribed period - normally 99 years when they are first granted. However a significant flats in Kettering were constructed or converted 30 or more years ago and so such leases now have less than 80 years remaining. This may sound like a long time but Banks, Building Societies and other mortgage lenders tend to require leases to have a minimum of 75 years remaining to adequate security. Accordingly when you come to sell the property you will need to extend the term of your lease if you are getting close to 75 years. To optimize your property value you should be considering whether to extend your lease well in advance of selling the property. You should note that there are significant benefits to doing so before the lease reaches even 80 years as when the lease falls below eighty years the amount you have to pay to extend starts to increase.