I plan on buying property in Horley. My property lawyer is not on the bank solicitor panel. Am I still permitted to use my Horley conveyancing solicitor notwithstanding that they are not on the bank panel of approved conveyancing solicitors?

One must appoint a conveyancer to deal with the formalities if you need a mortgage to purchase your home. The conveyancer will carry out all the essential due diligence on the property, ensuring that you’re properly registered as the owner and ensure that all the required mortgage documentation is dealt with. You may select a Horley conveyancer of your choosing. Nevertheless, where the property lawyer appointed is not on the mortgage company approved list additional charges will be incurred as separate legal representation will be need by the lender. Bank panel applications may be submitted, so provided your solicitor has not historically sought membership they should do so.

I am considering applying for a Aldermore mortgage for purchase of a newly converted (under development) in Horley with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Aldermore ?

There is nothing to stop you using your solicitor, but Aldermore will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.

My colleague suggested that where I am purchasing in Horley I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

A search of this type is sometimes included in the estimate for your Horley conveyancing searches. It is a large report of about 40 pages, listing and detailing important information about Horley around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data regarding Horley.

Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Horley is the location of the property. What do you suggest?

Flying freeholds in Horley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Horley you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Horley may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

Are there frequently found deficiencies that you come across in leases for Horley properties?

Leasehold conveyancing in Horley is not unique. All leases are unique and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

A provision to repair to or maintain elements of the premises Insurance obligations

You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Barnsley Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

I inherited a leasehold flat in Horley, conveyancing formalities finalised in 1999. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Horley with a long lease are worth £176,000. The ground rent is £50 invoiced every year. The lease ends on 21st October 2106

With just 80 years unexpired the likely cost is going to span between £8,600 and £9,800 plus costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.