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Find a Ilkeston Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Ilkeston? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Ilkeston transaction at risk of delay or failure.

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Recently asked questions about conveyancing in Ilkeston

I am considering applying for a HSBC mortgage for purchase of a new build (under development) in Ilkeston with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for HSBC ?

In theory, you could use a solicitor that is not on the HSBC conveyancing panel, but HSBC would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.

What can a local search inform me regarding the property we're purchasing in Ilkeston?

Ilkeston conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations such as Xpress Legal The local search is essential in every Ilkeston conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search should reveal data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.

I used Wolstenholmes a few years ago for my conveyancing in Ilkeston. I now require my papers but the law firm is no longer operating. What do I do?

You should call 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 Ilkeston of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.

How does conveyancing in Ilkeston differ for new build properties?

Most buyers of new build or newly converted property in Ilkeston approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Ilkeston usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ilkeston or who has acted in the same development.

I am looking at a couple of apartments in Ilkeston which have approximately fifty years unexpired on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Ilkeston is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. For most buyers and banks, leases with less than eighty 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 Ilkeston 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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 acquired a split level flat in Ilkeston, conveyancing having been completed in 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Ilkeston with an extended lease are worth £181,000. The ground rent is £55 yearly. The lease finishes on 21st October 2075

With 51 years remaining on your lease the likely cost is going to be between £30,400 and £35,200 plus costs.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do 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 you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

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