My husband and I are hoping to buy a house in Stockwood and have appointed a Stockwood conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Godiva Mortgages Ltd have this afternoon contacted us to inform me that they have now hit a problem as our Stockwood solicitor is not on their conveyancing panel. Please explain?

When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Stockwood lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.

My bid for a property was accepted at auction in Stockwood. Conveyancing is needed. What are my next steps?

Now that you are exchanged you now have to instruct a conveyancing practitioner soon as you now have a tight deadline in which to complete the deal. Every auction property will ordinarily have a bespoke auction pack. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the conveyancing papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to leasehold premises. You should give this to the lawyer instructed by you at the earliest opportunity. Do make sure that that you have the requisite funding organised to complete the transaction on the set completion date.

Forgive me if this question is silly but I am unseasoned as a 1st time buyer of a two bedroom flat in Stockwood. Do I receive the keys to the house on the completion date from my solicitor? If so, I will use a High Street conveyancing solicitor in Stockwood?

There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the purchase money to the vendor’s solicitors, and once they have received this, you will be able to collect the keys from the property Agents and start moving into the property. Usually this occurs early afternoon.

We expect to receive a DIP from Nationwide this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nationwide recommend any Stockwood solicitors on the Nationwide conveyancing panel, or is it better to find our own lawyer?

You will need to appoint Stockwood solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.

I need some fast conveyancing in Stockwood as I have an ultimatum to sign on the dotted line in less than one month. Fortunately I do not require a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?

As you are not getting a mortgage you are at liberty not to do searches although no conveyancer would suggest that you don't. Drawing on our experience of conveyancing in Stockwood the following are examples of what can crop up and therefore affect the marketability of the property: Refused Planning Applications, Outstanding Fees, Overdue Grants, Road Schemes,...

I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a quick, no chain conveyancing. Stockwood is where the house is located. Is there any advice you can impart?

Flying freeholds in Stockwood are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stockwood you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stockwood may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Stockwood. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Stockwood ?

Most houses in Stockwood are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are buying in Stockwood in which case you should be looking for a Stockwood conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer will advise you fully on all the issues.

I own a basement flat in Stockwood, conveyancing having been completed in 2002. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Stockwood with over 90 years remaining are worth £191,000. The ground rent is £55 per annum. The lease comes to an end on 21st October 2078

You have 53 years remaining on your lease the likely cost is going to range between £27,600 and £31,800 plus costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.