We selected a high street solicitor for my conveyancing in Shiremoor recently. Reviewing the small print I seeI am on the hook for costs even if our purchase aborts. Should I go with them or appoint an on-line firm offering no-sale-no-fee conveyancing in Shiremoor?

It is usually ‘give and take’ in that if "No Sale No Fee" is offered then the fee levels will generally be uplifted to counteract those cases that do not go ahead. Please beware that these deals tend not to cover outlay such your Shiremoor conveyancing search charges.

The Shiremoor conveyancing firm handling our Shiremoor conveyancing has spotted a difference when comparing the assumptions in the valuation survey and what is in the conveyancing documents. My solicitor informs me that he is duty bound to check that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s stance appropriate?

Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements 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.

We are selling our flat in Shiremoor. Does my lawyer need to be on the Lloyds conveyancing panel in order to deal with the discharge of my mortgage?

Ordinarily, even if your lawyer is not on the Lloyds conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.

Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in Shiremoor I like with open areas and transport links in the vicinity, however it only has 52 years on the lease. I can't really find anything else in Shiremoor for this price, so just wondered if I would be making a mistake buying a lease with such few years left?

If you require a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.

I am intending to sublet my leasehold apartment in Shiremoor. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Notwithstanding that your last Shiremoor conveyancing lawyer is not around you can check your lease to see if it allows you to sublet the property. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you need to seek consent from your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet in the absence of prior permission. Such consent is not allowed to be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.

I own a 1 bedroom flat in Shiremoor, conveyancing formalities finalised September 2003. Can you work out an approximate cost of a lease extension? Equivalent properties in Shiremoor with a long lease are worth £265,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2100

With only 76 years left to run we estimate the price of your lease extension to span between £8,600 and £9,800 as well as costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.