I am not in a position to travel far from Cudworth. Can you please explain the reason why all Cudworth property lawyers are not on all bank panels?

Before the recession most banks displayed an approach to risk which differs from the current day. The Financial Services Authority in 2010 carried out a thematic review into mortgage fraud which concluded: know the conveyancers on your panel. Consequently, lenders have since requiredmore information from law firms concerning their processes and the individuals employed by them and set certain criteria such as completing a minimum amount of transactions. Many firms have been removed from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms found it impossible meet the minimum volume of transactions the mortgage companies set.

We have rather brash vendors who has recommended a lock out agreement with a payment two thousand pounds. Are such agreements appropriate for Cudworth conveyancing transactions?

There are two main concerns with entering into any lock out agreement (also termed a no-shop agreement) is that it diverts attention away from making progress with the conveyancing process, so unless it requires limited or no negotiation then it could turn out to be a hindrance. It is not particularly popular by Cudworth conveyancing practitioners for this reason. A further issue is the extent of the remedies available - an aggrieved buyer is not likely to be granted an injunctive ruling by a court to prohibit the seller selling to an alternative purchaser, so the only remedy available under the contract will be the reimbursement of wasted charges and, in limited scenarios, the additional payment of penalties.

We just had an offer accepted to purchase with Melton Mowbray Building Society. We have called around locally but am struggling to find a Cudworth conveyancing firm on the Melton Mowbray Building Society approved list. Could you help?

You should make the most of the find a lender approved solicitor tool on this site. Please choose the building society and type Cudworth or your location and you will see a number of lawyer located in Cudworth or by proximity to you.

About to purchase a new build flat in Cudworth. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Cudworth

Please confirm the Lease plans are surveyor prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. There must be mutual enforceability of lessee’s covenants.

I am tempted by the attractive purchase price for a couple of apartments in Cudworth which have approximately fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Cudworth. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the value of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena.

Cudworth Leasehold Conveyancing - Sample of Queries before buying

The answer will be helpful as a) areas may result in problems in the building as the communal areas may start to deteriorate if services are not paid for b) if the tenants have a dispute with the managing agents you will want to have complete disclosure You should want to discover as much as you can concerning the company managing the building as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to daily issues like the cleanliness of the common parts. Ask other tenants what they think of them. Finally, find out the dates that the service charges are due to the managing agents and precisely what you get for your money. How many of the leaseholders are in arrears for their service charge payments?