My husband and I are hoping to acquire a 1 bedroom flat in Driffield with a mortgage. We have a Driffield solicitor, but the bank says he's not on their "panel". We have to appoint one of the bank panel firms or continue with our Driffield conveyancer as well as pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?

No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Driffield conveyancing solicitor to apply to be on the conveyancing panel.

The owners have very brash vendors who has suggested a exclusivity agreement with a non-refundable deposit 6,000. Is it wise to enter into such agreements?

This kind of contract isn't frequently used in Driffield, conveyancers are not keen on them as they detract from focusing on the primary objective, namely conveyancing and if you end up having your deposit forfeited then the lawyer at best left with an upset client and at worst a litigious one. Secondly, there is no certainty that just because the vendor has signed a lock out agreement they will sell to you. They may be inclined to break the contract if they receive a large enough incentive to do so because a wronged purchaser with the benefit of a exclusivitycontract will still have to establish consequential losses from the breach and this may not equalise the financial benefit that the owner may gain by breaking the agreement, no matter how morally unworthy that may be.

We are planning to buy with Norwich and Peterborough Building Society. We have called around locally yet cant to find a Driffield conveyancing firm on the Norwich and Peterborough Building Society approved list. Can you help?

Feel free to make use of the search tool on this web page. Please choose the building society and type Driffield or your location and you will discover numerous solicitors located in Driffield or near you.

Over the last few months I have been searching for a ground for flat up to £245,000 and found one close by in Driffield I like with a park and transport links in the vicinity, however it's only got 49 remaining years left on the lease. There is not much else in Driffield suitable, so just wondered if I would be making a mistake purchasing a short lease?

Should you need a home loan the shortness of the lease may be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.

I am hoping to sign contracts shortly on a leasehold property in Driffield. Conveyancing solicitors inform me that they will have a report out to me tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Driffield should include some of the following:

Repair and maintenance of the premises Do you need to have carpet in the flat or are you allowed wood flooring? Setting out your legal entitlements in respect of the communal areas in the building.For instance, does the lease include a right of way over an accessway or hallways? What options are available to the landlord where you are in breach of your lease terms? You would want to receive a copy of the lease

Driffield Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

How much is the ground rent and service charge? You should be aware if it is fewer than eighty years it will affect the value of the property. Check with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth finding out how much this will be. Remember, in most cases you would need to own the residence for 24 months in order to be eligible to carry out a lease extension. The best form of lease structure is a share of the freehold. In this scenario the leaseholders benefit from control and even though a managing agent is usually retained where the building is bigger than a house conversion, the managing agent is directed by the tenants.