My Quorn solicitor has spotted a difference between the surveyor’s assumptions in the home valuation survey and what is revealed within the legal papers for the property. My lawyer has advised that he needs to ensure that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s approach legitimate?

Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.

The estate agent has sent us the confirmation of our purchase of a new build flat in Quorn. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Quorn

The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision.

Hoping to buy a property located in Quorn and I am already nervous. I couldn't find anything specific about Quorn. Conveyancing will be needed in due course but do you know about the Quorn area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Quorn. In the meantime here are some basic statistics that we found

When it comes to leasehold conveyancing in Quorn what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Quorn. Most leases are drafted differently and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

A duty to insure the building Clauses dealing with recovering service charges for expenditure on the building or common parts.

You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Mortgage Works, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.

I own a leasehold flat in Quorn, conveyancing formalities finalised 3 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Quorn with an extended lease are worth £190,000. The ground rent is £65 invoiced every year. The lease ceases on 21st October 2085

With just 61 years unexpired we estimate the premium for your lease extension to be between £18,100 and £20,800 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

My step-son is just in the process of moving house, the home loan was agreed last week in principle. When the offer was accepted on apartment we telephoned the bank to issue the formal offer. I was shocked to learn that mortgage companies do not accept all property lawyer, they must be on their panel, is this correct?

Lenders tend to restrict either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Quorn conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.