Unfortunately I am unable to travel far from Ovingham. Is there a reason why all Ovingham solicitors are not on all lender panels?

Lenders highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for mortgage companies to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in mortgage companies purging less reputable firms off their books of approved solicitors .

The sellers of the house we are looking to purchase hired a conveyancing firm in Ovingham who has suggested a lock out contract with a down payment 10k. Is it wise to enter into such agreements?

There are a couple of main downsides with entering into any lock out contract (occasionally known as a no-shop agreement) is that it diverts attention away from making progress with the conveyancing transaction itself, so in the absence of it needing little or no negotiation then it could turn out to be a cause of frustration and delay. It is not promoted by Ovingham conveyancing solicitors for this reason. The other main concern is the extent of the remedies available - a jilted buyer is very unlikely to be granted injunctive relief to bar the seller completing the sale to a third party, so the only remedy open via the agreement will be the reimbursement of wasted costs and, in restricted scenarios, the additional payment of penalties.

My grandfather passed away last year and as sole heir and executor I was left the property in Ovingham. The house had a small mortgage remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Clydesdale, pay off the mortgage. Is this possible?

Given you intend to refinance then Clydesdale will insist on your using a conveyancer on the Clydesdale conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Clydesdale conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Clydesdale mortgage is registered as a charge at the Land Registry.

I have been on the look out for a ground for flat up to £305k and found one close by in Ovingham I like with open areas and railway links nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Ovingham suitable, so just wondered if I would be making a mistake purchasing a short lease?

Should you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.

I have just appointed agents to market my 2 bed apartment in Ovingham. Conveyancing has not commenced, but I have recently received a yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal as all ground rent and service charges will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I invested in buying a 2 bed flat in Ovingham, conveyancing was carried out 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Ovingham with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 yearly. The lease expires on 21st October 2086

With only 61 years unexpired the likely cost is going to span between £19,000 and £22,000 plus legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. 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 clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.