Is the fact that my conveyancer in Nether Stowey is not on my mortgage company's solicitor panel that there is a problem with the quality of the firm’s conveyancing?

It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Nether Stowey conveyancing practice and ask them why they are no longer on the approved list for your bank.

Our grandson is purchasing a new build apartment in Nether Stowey with a home loan from Nottingham. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?

The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Nottingham conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

I have just over seventy years unexpired on my lease and need a lease extension for my flat in Nether Stowey. Conveyancing solicitors on the Tesco Bank panel can deal with such extensions correct?

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 23/2/2025 the requirements read as follows :

My conveyancer has informed me that missing deeds insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Nether Stowey?

The right level of missing deeds indemnity insurance depends on who your lender is. It would differ for example between Lloyds TSB Bank and Leeds Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.

Is it the case that all Nether Stowey CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing list of approved practices?

It is true that some banks and building societies now make use of CQS as the starting point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.

I currently have a mortgage with Santander for my property in Nether Stowey. Conveyancing was finalised 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Santander?

Your original mortgage agreement with Santander will provide that you need their approval prior to renting your property as this is likely to be a breach of Santander’s mortgage conditions. It may be that Santander will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Santander directly. You need not do this via a Santander conveyancing panel solicitor.

I am tempted by the attractive purchase price for a two flats in Nether Stowey which have about forty five years remaining on the leases. Will this present a problem?

There are plenty of short leases in Nether Stowey. The lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease reduces and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field.

I own a basement flat in Nether Stowey, conveyancing having been completed 3 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Nether Stowey with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 levied per year. The lease finishes on 21st October 2089

With only 64 years left to run the likely cost is going to range between £14,300 and £16,400 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional 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.