The Market Bosworth conveyancing solicitors that I appointed last week on my house acquisition in Market Bosworth have without warning closed. I chose them because I had to have a solicitor on the Leeds Building Society conveyancing panel and my preferred Market Bosworth lawyer was not. I issued them a cheque for £250 in advance. What do I do now?

Assuming that you have an Estate Agent in the equation then let them know straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Leeds Building Society conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.

How does conveyancing in Market Bosworth differ for new build properties?

Most buyers of new build premises in Market Bosworth approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in Market Bosworth usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Market Bosworth or who has acted in the same development.

My brother has recommend that I use his conveyancing solicitors in Market Bosworth. Do I take his advice?

Much as we are happy to recommend a Market Bosworth conveyancing lawyer it’s preferable to select a conveyancing solicitor is to get referrals from friends or relatives who have actually experience in using the conveyancer that you are contemplating using.

Last August I purchased a leasehold flat in Market Bosworth. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I bought a basement flat in Market Bosworth, conveyancing having been completed 3 years ago. How much will my lease extension cost? Equivalent properties in Market Bosworth with over 90 years remaining are worth £202,000. The ground rent is £60 yearly. The lease ceases on 21st October 2080

With 56 years remaining on your lease we estimate the price of your lease extension to be between £29,500 and £34,000 plus 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 extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.

My husband and I are first time buyers just having agreed a price on a property in Market Bosworth, and are about to get solicitors lined up. We have utilised the different rating tools and the fee estimates are from all across the England and Wales. Is it necessary to have a Market Bosworth solicitor local to our potential house? We are content to do all the communicating electronically, but I guess at some point we may be required to physically go into the solicitor's office to sign contracts?

Usually there is no requirement to physically visit the office of your conveyancing practitioner, they can post any relevant papers to you, which you can sign and send back. Many buyers and sellers nevertheless opt to instruct a locally based solicitor, but it's by no means essential for conveyancing in Market Bosworth.