Me and my partner are purchasing a maisonette in Knaresborough. My lawyer has never been on on the mortgage company conveyancing panel. Is it possible for me to appoint my Knaresborough conveyancing solicitor even though they are excluded from the mortgage company panel of approved conveyancing solicitors?

Your options include

• Complete the deal with your chosen Knaresborough lawyer but your bank will no doubt retain a solicitor on their conveyancing panel. This will result in additional fees together with potential frustration.
• Appoint a new property lawyer to act in the purchase, obviously checking they are on the lender conveyancing panel.
• Convince your property lawyer to do everything possible to get accepted on the lender’s panel of solicitors

I have Fifty Six years left on my lease and require a lease extension for my flat in Knaresborough. Conveyancing solicitors on the Bank of Ireland panel can deal with such extensions right?

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 14/11/2024 the requirements read as follows :

I'm buying a new build house in Knaresborough with the aid of help to buy. The builders would not move on the price so I negotiated 6k of extras instead. The house builders rep told me not reveal to my solicitor about this side-deal as it would put at risk my mortgage with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Is it possible to switch conveyancer as I have to find one who is on the Virgin Money conveyancing list. I had appointed a local conveyancing solicitor in Knaresborough round the corner but she is not accepted by Virgin Money

It would be our pleasure to assist you select a conveyancing solicitor in Knaresborough on the Virgin Money panel. Please note that the solicitors that we work with do not pay us fee if you instruct them and are under regulation of the SRA who regulate all conveyancing solicitors in Knaresborough. In making use of search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Knaresborough.

Are there frequently found defects that you come across in leases for Knaresborough properties?

Leasehold conveyancing in Knaresborough is not unique. Most leases are individual and drafting errors can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:

Insurance obligations Clauses dealing with recovering service charges for expenditure on the building or common parts.

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Virgin Money, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.

I inherited a 1st floor flat in Knaresborough, conveyancing was carried out March 2002. 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? Comparable properties in Knaresborough with a long lease are worth £171,000. The average or mid-range amount of ground rent is £50 levied per year. The lease terminates on 21st October 2103

You have 79 years remaining on your lease we estimate the premium for your lease extension to span between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should 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.