I am not in a position to travel far from Downham. What is the rationale as to why all Downham conveyancing practitioners aren't included on all mortgage company panels?

Pre- 2008 most lenders had an attitude to risk which differs from the current day. The FSA in 2010 carried out a thematic review into property fraud which concluded: know the conveyancing practitioners on your panel. Accordingly, banks have since requiredmore information from law firms about their operations and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Hundreds of firms have found themselves excluded from lender panels even though they had 100% healthy disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the minimum volume of transactions the mortgage companies set.

I am purchasing a house mortgage free in Downham. I have lived for the last 15 years in Downham. Conveyancing searches are exorbitant. Given that I know the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?

Provided that you do not need a home loan, then almost all of the Downham conveyancing searches are optional. Your lawyer will ’encourage you, no-doubt strongly, that you should have searches completed, but she is duty bound to take that path of advice. Do consider; if you are going to sell the house one day, it could be of importance to your prospective purchaser what the searches contain. There are plenty of instances where properties with day to day issues can still throw up unfavourable search results. A competent conveyancing solicitor in Downham should provide you some constructive guidance in this regard.

I used Stirling Law several years past for my conveyancing in Downham. I now require my papers however the law firm has closed. What do I do?

You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Downham of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.

I am attracted to a two apartments in Downham which have approximately 50 years unexpired on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold flat in Downham is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of purchasers and lenders, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Downham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I have tried to negotiate informally with with my landlord to extend my lease without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Downham conveyancing firm to represent me?

Absolutely. We are happy to put you in touch with a Downham conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a Downham property is Ravensbourne Lodge 4 Highland Road in February 2013. the Tribunal held that the amount payable for the freehold was £22,268

Should I cancel the direct debit for my mortgage with Principality once a completion date for my sale in Downham has been agreed?

You would be well advised to keep meeting any mortgage sums to Principality until the mortgage is discharged on completion as part of your Downham conveyancing.