I am being advised by my solicitor that lack of right of way insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Rotherham?

The appropriate level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and Leeds Building Society. Conveyancing lawyers as opposed to borrowers take out such insurances.

When it comes to lenders such as Yorkshire BS, do Rotherham lawyers incur a yearly amount to be on the list of approved solicitors?

We are unaware of any bank fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.

We previously appointed conveyancers with offices in Rotherham on the Co-operative solicitor approved list. They have just invoiced me a separate fee for the legal aspects of the Co-operative mortgage. Is this a supplemental conveyancing fee set by Co-operative?

Provided it is contained in their Terms of Engagement or estimate then yes your property lawyer is entitled to levy a fee for this. This charge is not set by Co-operative but by your Rotherham solicitor. Some firms on the Co-operative panel will levy ’dealing with mortgage’ fee and others do not.

What can a local search reveal concerning the house we're buying in Rotherham?

Rotherham conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations such as PSG The local search is essential in every Rotherham conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.

I'm buying a new build house in Rotherham with a mortgage from Barclays . The builders would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent advised me not inform my lawyer about this extras as it would jeopardize my loan with the lender. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

How do I search for a Rotherham law firm on the Nottingham Building Society conveyancing panel? I have a car and am prepared to travel upto 25miles to meet the lawyer.

You can use the tool on this website. Please choose the bank and your location and you will see a number of Rotherham conveyancing lawyers located nearest you. We have detailed some Rotherham conveyancing firms at the bottom of this page and you can contact them to verify if they are on the Nottingham Building Society member panel

I am looking at a two maisonettes in Rotherham both have approximately forty five years unexpired on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Rotherham is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of purchasers and mortgage companies, leases with less than 75 years become less and less attractive. On a more upbeat 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 property 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 Rotherham 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.

I own a 2 bed flat in Rotherham, conveyancing formalities finalised in 2007. How much will my lease extension cost? Comparable flats in Rotherham with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2078

You have 54 years left to run we estimate the price of your lease extension to span between £31,400 and £36,200 plus professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns 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.