Me and my partner are buying an apartment in Horfield. My lawyer is not listed on the bank solicitor panel. Can I still retain my Horfield conveyancing solicitor notwithstanding that they are not on the lender list of approved lawyers?

You have a couple of options open to you here

• Complete the deal with your chosen Horfield conveyancer but your mortgage company will undoubtedly instruct a solicitor on their approved panel. The net result is additional charges and likely delay.
• Choose a fresh lawyer to conduct the conveyancing, obviously checking they are on the mortgage company conveyancing panel.
• Appeal to your lawyer to seek to join the bank panel

I decided to have a survey carried out on a property in Horfield before appointing conveyancers. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some banks may not issue a loan on such a premises.

It varies from the lender to lender. Santander has different requirements for example to Halifax. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Horfield. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Horfield to see if the conveyancing costs will increase in light of this.

I am looking into buying my first house which is in Horfield and I am already nervous. I couldn't find anything specific about Horfield. Conveyancing will be needed in due course but do you know about the Horfield area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Horfield. In the meantime here are some basic statistics that we found

Am I better off to use a Horfield conveyancing solicitor who is local to the property I am purchasing? I have an old university friend who can deal with the legal formalities however they are based 400kilometers drive away.

The primary upside of using a high street Horfield conveyancing firm is that you can visit the firm to sign documents, deliver your identification documents and pester them if necessary. Having local Horfield know how is a bonus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and the majority were content that should outweigh using an unfamiliar Horfield conveyancing lawyer just because they are based in the area.

I am looking at a two apartments in Horfield which have approximately 50 years remaining on the lease term. should I be concerned?

There is no doubt about it. A leasehold flat in Horfield 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 marketability of the premises. The majority of buyers and banks, leases with under 75 years become less and less marketable. On a more upbeat 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 Horfield conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 any new 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.

Leasehold Conveyancing in Horfield - Examples of Questions you should ask before buying

You should be aware if it is no more than eighty years it will affect the salability of the apartment. 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 require a lease extension sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you would be be obliged to have been the owner of the residence for two years before you are legally able to extend the lease. It is important to be aware whether changing the roof or some other major work is due in the near future to be shared between the leaseholders and will dramatically impact the level of the maintenance fees or result in a specific payment. Are there any major works on the horizon that will add a premium to the maintenance fees?