The Market Harborough conveyancing firm handling our Market Harborough conveyancing has identified an inconsistency between the surveyor’s assumptions in the valuation survey and what is revealed within the legal papers for the property. My solicitor informs me that he is duty bound to check that the lender is happy with this discrepancy and is content to go ahead. Is my conveyancer’s stance appropriate?

Your solicitor must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.

We note that you have a post code search directory listing law firms on the Clydesdale conveyancing panel. Do firms pay you a referral fee if I retain them for our own conveyancing in Market Harborough?

We are a listing service only for law firms wishing to communicate if they are on the Clydesdale conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Market Harborough.

I am assisting my niece sell her property in Market Harborough. Does the solicitor commission an energy assessment or it is for me to coordinate?

After the demise of Home Information Packs, energy assessments was maintained a compulsory element of selling a house. An EPC must be to hand before the property is marketed. It is not a task that conveyancers ordinarily organise. If you are using a Market Harborough conveyancing practitioner they might be able to arrange energy assessments given their relationships with reputable Market Harborough assessors

Is there a list of Nottingham panel solicitors in Market Harborough on the UK Finance Lenders’ Handbook Website?

Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. Very few banks make their panel listings viewable over the internet. If you are looking for a Market Harborough property lawyer on the Nottingham please make the most of our facility.

Aldermore have agreed my home loan in principle, my offer on a property in Market Harborough has been accepted, what happens next?

The property agent will wish to be informed of your lawyer's details (make sure the property lawyers are on the bank’s panel). Call up Aldermore or the broker and finish off any relevant forms. Aldermore will appoint a valuer who will get in contact with the estate agent or owners to arrange an appointment. Once carried out (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Aldermore will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Market Harborough.

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

Most buyers of new build residence in Market Harborough approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Market Harborough tend to purchase the real estate, 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 used to new build conveyancing in Market Harborough or who has acted in the same development.

I am a negotiator for a reputable estate agent office in Market Harborough where we have witnessed a few leasehold sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Market Harborough conveyancing solicitors. Can you shed some light as to whether the seller of a flat can start the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

I bought a leasehold flat in Market Harborough, conveyancing was carried out 9 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Market Harborough with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease ceases on 21st October 2085

You have 61 years remaining on your lease we estimate the price of your lease extension to be between £18,100 and £20,800 as well as professional fees.

The figure 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 detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously 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.