I sincerely hope you can assist me. My Hockley solicitor is informing me me that he is legally obliged toorder Hockley conveyancing searches asthe firm are on the Virgin Moneyconveyancing panel. Is this really necessary?

Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Hockley conveyancing searches.

Do lawyers ask for money on account when it comes to conveyancing in Hockley?

If you are buying a property in Hockley your solicitor will ask you put them with funds to cover the search fees. Generally this is asked for to cover the fees of the conveyancing searches. When the deposit is payable against the sale price then this should be needed shortly before exchange of contracts. Any further balance that is due will be payable a few days prior to the day of completion.

Over the last few months I have been searching for a ground for flat up to £235,500 and found one close by in Hockley I like with open areas and railway links nearby, however it's only got 51 remaining years left on the lease. There is not much else in Hockley for this price, so just wondered if I would be making a grave error buying a short lease?

If you require a mortgage the shortness of the lease will be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.

What advice can you give us when it comes to choosing a Hockley conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Hockley conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Hockley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:

How many lease extensions have they conducted in Hockley in the last year?

I acquired a leasehold flat in Hockley, conveyancing having been completed 5 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Hockley with an extended lease are worth £211,000. The ground rent is £50 invoiced every year. The lease runs out on 21st October 2093

With 68 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

Some months ago I was told by my lender that their approved conveyancers work on no move no fee basis for conveyancing in Hockley. My purchase fell through nevertheless the lawyers have invoiced for search fees! They say the fees are seperate!

Hockley conveyancing search costs are separate expenses not legal costs as these are payable to independent parties.