How up to date is your search tool for Aspley Guise conveyancing solicitors on the Yorkshire BS conveyancing panel? Do Yorkshire BS send you an updated list?

Aspley Guise conveyancing firms themselves provide us confirmation that they are on the Yorkshire BS conveyancing panel as opposed to being supplied with a list from Yorkshire BS directly.

Can you clarify what the consequences are if my solicitor is removed from the Yorkshire BS Conveyancing panel ahead of completing my conveyancing in Aspley Guise?

First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.

I'm purchasing my first flat in Aspley Guise with a loan from Yorkshire Building Society. The sellers refused to budge the price so I negotiated 6k of additionals instead. The house builders rep advised me not reveal to my solicitor about this deal as it will affect my loan with Yorkshire Building Society. Is this normal?.

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.

I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Aspley Guise is the location of the property. Can you shed any light on this issue?

Flying freeholds in Aspley Guise are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Aspley Guise you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Aspley Guise may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

I am looking at a two apartments in Aspley Guise which have approximately fifty years left on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Aspley Guise. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena.

I own a leasehold flat in Aspley Guise, conveyancing formalities finalised August 1995. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Aspley Guise with over 90 years remaining are worth £255,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 2098

With 73 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 plus costs.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.