We are buying a 2 bedroom flat in Newton Abbot with a mortgage. We have a Newton Abbot lawyer, however the mortgage company advise she’s not on their "panel". We have to appoint one of the bank panel solicitors or continue with our Newton Abbot property lawyer as well as pay for one of their panel lawyers to represent them. This feels very unfair; is there anything we can do?

Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Newton Abbot conveyancing lawyer to apply to be on the conveyancing panel.

I am need of leasehold conveyancing for a flat in a relatively new development (seven years built) in Newton Abbot. The vast majority the properties are already disposed of. Is it strictly necessary to order conveyancing searches for my conveyancing in Newton Abbot?

If you are buying a property with the assistance of a loan, your bank will insist on some (many) of the searches so you'll have no choice. If not, then Newton Abbot conveyancing searches are optional. Your lawyer, will ’encourage’, perhaps strongly, that you should not go ahead without searches, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you insist that your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in Newton Abbot.

It is a dozen years since I purchased my property in Newton Abbot. Conveyancing lawyers have just been retained on the sale but I am unable to find the deeds. Will this cause complications?

You need not be too concerned. First there is a possibility that the deeds will be with your mortgage company or they could be archived with the solicitor who oversaw your purchase. Secondly the chances are that the title will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring up to date copy of the land registers. Almost all conveyancing in Newton Abbot relates to registered property but in the unlikely event that your home is unregistered it is more of a problem but is not insurmountable.

I had intended to instruct a property lawyer in Newton Abbot for our home move. Our financial adviser has since advised us that our bank Barnsley Building Society won't deal with them. Surely this is unduly restrictive?

Pre- 2008 most banks had an appetite for risk which was higher than today. Almost all Newton Abbot conveyancing firms would have been on most bank panels. The Financial Services Authority in 2010 carried out a thematic review into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more data from law firms relating to their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum volume of transactions. Many Newton Abbot conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Newton Abbot is amongst the many locations where the lawyers we recommend are are authorised to act for Barnsley Building Society.

What makes a Newton Abbot lease unmortgageable?

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

Insurance obligations Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Mortgage Works, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

I invested in buying a ground floor flat in Newton Abbot, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Newton Abbot with over 90 years remaining are worth £216,000. The ground rent is £50 invoiced every year. The lease terminates on 21st October 2094

With just 70 years unexpired the likely cost is going to span between £9,500 and £11,000 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 renewing a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional 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 placing reliance on this information without first seeking the advice of a professional.