I am not in a position to travel far from Oldham. Please spell out why all Oldham conveyancing practitioners aren't included on all lender panels?

Mortgage Companies normally impose restrictions on either the type or volume of conveyancing solicitors on their approved list of lawyers. A common example of such restriction(s) being that a practice must have two or more partners. In addition to restricting the type of firm, some lenders decided to restrict the number of organisations they use to represent them. You should note that building societies have no liability for the accuracy of service supplied by any Oldham conveyancer on their approved list. Mortgage fraud was the key driver in the rationalisation of conveyancing panels a few years ago notwithstanding that there are contrary opinions about the extent of solicitor involvement in some of that fraud. Statistics from HMLR exposes that thousands of conveyancing firms only carry out one or two conveyances annually. Those supporting conveyancing panel pruning question why conveyancing firms deserve the right to be listed on a bank panel when it is apparent that conveyancing is not their primary expertise?

My partner and I are acquiring a newly built apartment in Oldham and my solicitor is advising me that she is duty bound to the mortgage company to disclose incentives from the builder. I am nearing the developer’s deadline to exchange and I would rather not delay matters. is my lawyer playing by the book?

You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.

We are getting a further advance on our mortgage from TSB as we intend to carry out a loft conversion to our home in Oldham. Do we need to choose a nearby Oldham solicitor on the TSB conveyancing panel to deal with the paperwork?

TSB would not normally require a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the TSB list.

I have decided to exercise my right to buy my property in Oldham off the council. I have a mortgage agreed with Coventry BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?

It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.

I am selling my flat. I had a double glazing fitted in June 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Co-operative are being difficult. The Oldham solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?

It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.

Should commercial conveyancing searches disclose proposed roadworks that may affect a commercial property in Oldham?

Many commercial conveyancing solicitors in Oldham will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Oldham. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Oldham.

For every commercial conveyancing transaction in Oldham it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Oldham commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Oldham.

I am tempted by the attractive purchase price for a couple of maisonettes in Oldham both have in the region of forty five years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Oldham is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. For most buyers and mortgage companies, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Oldham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I purchased a leasehold flat in Oldham, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Oldham with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2082

With 57 years left to run we estimate the price of your lease extension to be between £26,600 and £30,800 plus 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 without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.