I am not well enough to travel far from Bramley. Please spell out why all Bramley lawyers aren't automatically on all lender panels?

Pre- 2008 most lenders had an attitude to risk which is different than today. The Financial Services Authority in 2010 instigated a thematic review into mortgage fraud which concluded: know the property lawyers on your panel. As a result, lenders have since soughtmore data from law firms regarding their processes and the individuals who work for them and set certain criteria such as completing a minimum number of transactions. Many firms have been excluded from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the criteria of volume of transactions the mortgage companies set.

How does conveyancing in Bramley differ for new build properties?

Most buyers of new build premises in Bramley come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is finished. This is because new home sellers in Bramley usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Bramley or who has acted in the same development.

Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one near me in Bramley I like with a park and railway links in the vicinity, however it only has 51 years on the lease. There is not much else in Bramley suitable, so just wondered if I would be making a grave error buying a short lease?

If you require a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.

Given that I will soon part with 450k on a house in Bramley I wish to talk to a solicitor about myhouse move ahead of appointing the firm. Can this be arranged?

We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the lawyer due to be conducting your property ownership legalities in Bramley.There is no ‘factory style conveyancing’ - every client is an important person, not a case number. The law firms that we put you in touch with believe that the figure you are provided with for residential conveyancing in Bramley should be the figure that you are charged.

I own a leasehold flat in Bramley. Conveyancing was finalised in 2009. I have been told that I should not let the lease length fall too low. Is this right?

Bramley residential long term leases are for a set period - usually 99 years when they are first granted. However many flats in Bramley were built or converted in the 60’s and so these leases now have under 80 years unexpired. That may seem like plenty of time but Banks, Building Societies and other mortgage institutions generally need leases to have a minimum of seventy five years remaining to adequate security. Accordingly when you come to sell the property you will need to extend the term of your lease if you are approaching eighty years. To optimize the marketability of your property you should be thinking about whether or not to extend your lease well in advance of selling the property. You should note that there are significant benefits to taking action before the lease reaches even eighty years as when the lease falls below eighty years the premium you have to pay to extend starts to get a lot more expensive.