Am I correct in assuming that the fact that my solicitor in Bournville is not identified on my bank's conveyancing panel that there is a problem with the standard of her work?

That would most likely be a wrong assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Bournville conveyancing firm and enquire why they are no longer on the approved list for your bank.

IfI was to purchase a simple residential propertyin Bournville mortgage fee and have no survey and no local authority searches how much would I expect to have to pay for conveyancing in Bournville?

The sole reduction in fees you would make on is the Bournville conveyancing searches. A property lawyer is required to do the vast majority of work - money laundering, communicating with the sellers solicitor, stamp duty submission, register the title etc. A slight saving might be made by not having to register a charge however it won't be meaningful.

I need some quick conveyancing in Bournville as I am under an ultimatum to complete in less than 3 weeks. Fortunately I do not require a mortgage. Is it possible to escape the need for conveyancing searches to save fees and time?

If.Given you are not obtaining a mortgage you have the choice not to have searches conducted although no lawyer would advise that you don't. With lots of history conveyancing in Bournville the following are instances of issues that can appear and adversely affect market value: Refused Planning Applications, Overdue Fees, Overdue Grants, Road Schemes,...

I've found a house that seems to be perfect, at a great price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Bournville. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

Most houses in Bournville are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. It is clear that you are buying in Bournville in which case you should be shopping around for a Bournville conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will advise you fully on all the issues.

I invested in buying a garden flat in Bournville, conveyancing having been completed 9 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Bournville with a long lease are worth £180,000. The ground rent is £65 invoiced every year. The lease expires on 21st October 2084

With 59 years remaining on your lease the likely cost is going to range between £20,900 and £24,200 as well as legals.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.

I own a leasehold flat in Bournville. Conveyancing was finalised in five years ago. I have heard that I should not allow the lease length fall too short. Why is that a problem?

Bournville domestic long term leases are for a set term - usually just under one hundred years when they are first granted. However a significant appartments in Bournville were built or converted in the 60’s and so such leases now have under eighty years remaining. That may sound like a long time however Banks, Building Societies and other mortgage companies generally need leases to have at least 75 years unexpired to be mortgageable. This means that when you come to sell the property you will need a lease extension if you are approaching eighty years. To maximise your property value you should be considering whether to extend your lease long before you come to sell it. Please note that there are significant benefits to doing so before the lease hits eighty years as when the lease falls below 80 years the premium to be paid to extend starts to get a lot more expensive.