I was advised today by my mortgage adviser that my Kirkby in Ashfield property lawyer is not on the lender Conveyancing panel. How can I be sure that this is correct?

The first thing you need to do is to call your Kirkby in Ashfield lawyer directly. It is reasonable to expect your lawyer to notify you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.

We are purchasing a brand new apartment in Kirkby in Ashfield and my solicitor is telling me that she is duty bound to the mortgage company to disclose incentives from the builder. I am under pressure to exchange contracts and my preference is not to prolong the conveyancing. Is my lawyer right?

You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.

I require fast conveyancing in Kirkby in Ashfield as I have pressure to complete in less than one month. Thankfully I do not need a mortgage. Can I decline from having conveyancing searches to save fees and time?

As you are not taking a home loan you have the choice not to have searches carried out although no law firm would suggest that you don't. Drawing on years of experience of conveyancing in Kirkby in Ashfield the following are examples of what can show up and therefore affect future saleability: Enforcement Notices, Outstanding Charges, Outstanding Grants, Road Schemes,...

As co-executor for the estate of my father I am selling a property in Newport but live in Kirkby in Ashfield. My lawyer (based 260 miles awayhas requested that I sign a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing lawyer in Kirkby in Ashfield who can witness and place their company stamp on the document?

strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are located in Kirkby in Ashfield

I am tempted by the attractive purchase price for a couple of apartments in Kirkby in Ashfield both have in the region of forty five years left on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Kirkby in Ashfield is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the property. For most buyers and banks, leases with less than eighty years become less and less marketable. 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 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 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 Kirkby in Ashfield 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.

I purchased a 1 bedroom flat in Kirkby in Ashfield, conveyancing having been completed 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Kirkby in Ashfield with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease expires on 21st October 2089

With just 65 years remaining on your lease we estimate the premium for your lease extension to range between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.