Is the fact that my conveyancer in Yatton is not listed on my lender's conveyancing panel that there is a problem with the standard of his work?

It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Yatton conveyancing practice and enquire why they are no longer on the approved list for your lender.

My god-son is purchasing a new build apartment in Yatton with a mortgage from Santander. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?

The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Santander conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

As a novice what is the most important number one tip you can impart regarding purchase conveyancing in Yatton?

Not many law firms or advisers will tell you this but conveyancing in Yatton and elsewhere in England and Wales is an adversarial experience. Put another way, when it comes to conveyancing there is lots of room for confrontation between you and other parties involved in the ownership transfer. For instance, the vendor, property agent and sometimes your lender. Choosing a solicitor for your conveyancing in Yatton should not be taken lightly as your conveyancer is your adviser, and is the SOLE party in the legal process whose role it is to protect your best interests and to protect you.

We are witnessing a worrying ongoing adversarial element to conveyancing- someone must be blamed for the process taking so long. You must always trust your solicitor above the other players in the conveyancing process.

I opted to have a survey carried out on a property in Yatton prior to instructing conveyancers. I have been informed that there is a flying freehold element to the house. My surveyor advised that some lenders tend not grant a mortgage on a flying freehold home.

It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Yatton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Yatton to see if the conveyancing will be more expensive.

I am attracted to a couple of apartments in Yatton which have about 50 years remaining on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Yatton is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the value of the premises. The majority of purchasers and mortgage companies, leases with under eighty years become less and less marketable. 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 Yatton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Yatton Leasehold Conveyancing - Examples of Questions you should consider before buying

What is the name of the managing agents? Are there any major works anticipated that will likely increase the maintenance charges? Be sure to discover if there is anything that is prohibited in the lease. For example some leases prohibit pets being allowed in in a block in Yatton. If you like the flatin Yatton however your cat can’t make the move with you then you will be faced hard decision.