Me and my partner are hoping to acquire a 3 bedroom apartment in Stanley with a mortgage. We like our Stanley conveyancer, however the lender says he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or keep our Stanley solicitor and pay for one of their panel lawyers to act for 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 lender’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 Stanley conveyancing solicitor to apply to be on the conveyancing panel.

I need some fast conveyancing in Stanley as I am faced with pressure to exchange contracts within 3 weeks. A mortgage is not required. Can I decline from having conveyancing searches to save fees and time?

If.Given you are not obtaining a home loan you are at free not to have searches conducted although no solicitor would recommend that you don't. Drawing on years of experience of conveyancing in Stanley the following are instances of issues that can be revealed and therefore impact future mortgageability: Refused Planning Applications, Overdue Charges, Overdue Grants, Railway Schemes,...

I have been on the look out for a flat up to £245,000 and identified one round the corner in Stanley I like with amenity areas and transport links nearby, however it's only got 51 years on the lease. I can't really find anything else in Stanley in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?

Should you require a home loan the remaining unexpired lease term may be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.

I'm remortgaging my existing property to a BTL loan with Virgin Money and I will use the ballance of the raised equity as a down payment on a second property. The location we are talking about is Stanley. Will your conveyancers be able to act for both sets of mortgage companies and link together the transactions?

Do use our search tool on this page to ensure that the solicitors are approved by both banks. On the basis that they are your conveyancer should be able to connect the two deals but you should talk with you lawyer and communicate your expectations and requirements.

What are the common deficiencies that you witness in leases for Stanley properties?

There is nothing unique about leasehold conveyancing in Stanley. Most leases are unique and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

A provision for the recovery of money spent for the benefit of another party. Insurance obligations

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Bank of Scotland, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.

Stanley Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing

What is the yearly service fee and ground rent? How many years are left on the lease? What restrictions exist in the Stanley Lease?