My fiance and I are hoping to buy a newly converted flat in Ivybridge with a residential mortgage from Leeds Building Society.We have a Ivybridge conveyancing solicitor but Leeds Building Society advised that his firm is not listed on their "panel". It seems we are left with no choice but to instruct a Leeds Building Society panel firm or keep our preferred solicitor and fork out for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Leeds Building Society use our lawyer?

Unfortunately,no. The mortgage issued to you is subject to its terms and conditions, a common one being that lawyers will be on the Leeds Building Society solicitor panel. in the past, most mortgage companies 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Leeds Building Society

Despite weeks of looking the Title Certificate and documents to our house can not be found. The solicitors who did the conveyancing in Ivybridge 10 years ago have long since closed. Will I be able to sell the house?

Assuming you have a registered title the information relating to your proprietorship will be retained by the Land Registry with a Title Number. It is possible to carry out a search at the Land Registry, locate your property and secure current copies of the property title for less than a fiver. If the property is Leasehold then the Land Registry will usually hold a certified copy of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.

How does conveyancing in Ivybridge differ for new build properties?

Most buyers of new build or newly converted property in Ivybridge come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is finished. This is because new home sellers in Ivybridge typically acquire the site, 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 Ivybridge or who has acted in the same development.

I am looking for a flat up to £305k and identified one round the corner in Ivybridge I like with a park and station in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in Ivybridge for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?

If you need a home loan that many years will be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.

What advice can you give us when it comes to finding a Ivybridge conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Ivybridge conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with two or three firms including non Ivybridge conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:

How many lease extensions have they carried out in Ivybridge in the last 12 months? How experienced is the practice with lease extension legislation?

Ivybridge Leasehold Conveyancing - Sample of Questions you should ask before buying

Does this lease have in excess of 85 years left? Best to be warned if redecorating or some other significant cost is coming up that will be shared by the leasehold owners and could well materially impact the level of the service charges or necessitate a specific invoice.