I am nearing exchange of contracts for my ground floor flat in Allenton and the estate agent has just called to warn that the purchasers are changing their property lawyer. I am told that this is due to the fact that the bank will only deal with solicitors on their approved list. On what basis would a big named lender only engage with specific lawyers rather the firm that they want to appoint for their conveyancing in Allenton ?

UK lenders have always had panels of law firms they are willing to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.

Mortgage companies attribute this action to a rise in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any sway in the decision.

The owners have very brash vendors who has insisted on a preliminary agreement with a payment of 5k. Are such agreements sensible?

There are a couple of primary concerns with executing a lock out contract (also termed an exclusivity agreement) is that it can distract from progressing with the conveyancing process, so in the absence of it needing limited or no negotiation then it may transpire to be unhelpful. It is not particularly popular by Allenton conveyancing solicitors for this reason. A further negative is the extent of the remedies available - an aggrieved purchaser should not expect to win an injunction to bar the vendor selling to another buyer, so the only remedy available under the agreement will be the reimbursement of abortive charges and, in rare circumstances, the extra payment of penalties.

Forgive me if this question is silly but I am unseasoned as FTB of a two bedroom flat in Allenton. Do I receive the keys to the property on completion from my lawyer? If this is the case, I will instruct a High Street conveyancing solicitor in Allenton?

On the day of completion you do not need to go to the conveyancers office in Allenton. Your solicitors will arrange to send the purchase money to the owner’s lawyers, and once they have received this, you should be invited to receive the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.

We are buying a detached bungalow in Allenton. We would like to carry out an extension to the side at the house.Will legal work on the property involve investigations to determine if these works are permitted?

Your solicitor will check the deeds as conveyancing in Allenton can occasionally reveal restrictions in the title deeds which prevent categories of works or necessitated the permission of a 3rd party. Many additions need local authority planning consent and approval in compliance with building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be wise to check these issues with a surveyor ahead of any purchase.

I currently have a mortgage with Principality for my property in Allenton. Conveyancing was finalised some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Principality?

Your original mortgage agreement with Principality will provide that you need their approval before letting out your property as this is likely to be a breach of Principality’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. You need not do this via a Principality conveyancing panel solicitor.

Do you have any top tips for leasehold conveyancing in Allenton with the intention of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Allenton can be bypassed where you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers’ conveyancers.
You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to where the lease term is under 75 years. In the circumstances it is essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. Many landlords or Management Companies in Allenton charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Allenton. If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a flat where a dispute is unresolved. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as over rather than ongoing. In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Most leases in Allenton state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such works. If you fail to have the paperwork to hand you should not communicate with the landlord without checking with your solicitor first.

Allenton Leasehold Conveyancing - Examples of Questions you should ask before Purchasing

Most Allenton leasehold apartments will incur a service charge for the upkeep of the building levied by the management company. Where you acquire the flat you will have to pay this contribution, normally quarterly throughout the year. This can vary from a few hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. There will also be a ground rent for you to pay yearly, ordinarily this is not a exorbitant amount, say about £25-£75 but you need to check as occasionally it could be prohibitively expensive. How long is the Lease? In the main the cost for major works tend not to be included within maintenance charges, albeit that there some managing agents in Allenton ask leasehold owners to pay into a sinking fund and this is used to offset against larger repairs or maintenance.

We had our home loan approved yesterday with our bank. We have retained a reputable conveyancer in Allenton two days ago. This morning, our mortgage adviser contacted us saying that the mortgage company said that we cannot use our solicitor as they aren't on their 'approved list'. As novices, we had no idea that the lender had a say Is this allowed?

You are permitted to select any lawyer you want to appoint for your conveyancing in Allenton nevertheless if your mortgage company aren't happy with them you must pay additional cost so your lender can instruct their own lawyers. It may be possible your solicitor may apply to get included on to the mortgage company list of approved firms. You can use internet tools such as lenderpanel.com to find a conveyancing solcitor in Allenton on the bank panel. You can go into your local lender branch in Allenton. They can recommend conveyancing solicitors in Allenton on the panel for your mortgage company.