I am not well enough to travel far from Midsomer Norton. I would like to know the logic why all Midsomer Norton property lawyers are not on all lender panels?

Pre- 2008 most mortgage companies displayed an attitude to risk which is different from today. The Financial Services Authority in 2010 instigated a thematic review into property fraud which in summary warned lenders: know the conveyancing practitioners on your panel. As a result, lenders have since requiredmore information from law firms regarding their processes and the individuals who work for them and set certain criteria such as completing a minimum amount of transactions. Many law practices have found themselves excluded from lender panels even though they had 100% healthy track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms found it impossible meet the minimum amount of transactions the lenders set.

When it comes to mortgage companies such as RBS, do Midsomer Norton conveyancing practitioners face an annual charge to be on the list of approved solicitors?

We are not aware of any lender fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.

We had selected conveyancers locally in Midsomer Norton on the RBS solicitor panel. They are now charging me a supplemental amount for the legal aspects of the RBS mortgage. Is this a supplemental conveyancing fee set by RBS?

As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer is entitled to charge a fee for this. This fee is not set by RBS but by your Midsomer Norton conveyancing practitioner. Some firms on the RBS panel will levy ’dealing with mortgage’ fee and others do not.

I am buying a property in Midsomer Norton. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?

Given that your lender is Coventry BS your lawyer must follow the formal instructions outlined in Part 2 of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook includes minimum conditions for solar panel roof-space leases, and lawyers are required to report to Coventry BS where a lease does not meet these requirements. The requirements relate to the installation of panels on properties countrywide and is not limited to Midsomer Norton.

Will commercial conveyancing searches disclose impending roadworks that may affect a commercial land in Midsomer Norton?

Many commercial conveyancing solicitors in Midsomer Norton will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Midsomer Norton. The report provides definitive data 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 Midsomer Norton.

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

How does conveyancing in Midsomer Norton differ for newly converted properties?

Most buyers of new build premises in Midsomer Norton approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Midsomer Norton usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Midsomer Norton or who has acted in the same development.

I've found a house that appears to be perfect, at a great price which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Midsomer Norton. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Midsomer Norton ?

Most houses in Midsomer Norton are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are buying in Midsomer Norton in which case you should be shopping around for a Midsomer Norton conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your conveyancer should advise you fully on all the issues.

I acquired a 1st floor flat in Midsomer Norton, conveyancing having been completed in 2010. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Midsomer Norton with a long lease are worth £202,000. The ground rent is £60 per annum. The lease comes to an end on 21st October 2080

With only 56 years unexpired we estimate the premium for your lease extension to be between £29,500 and £34,000 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.