I am expecting a offer of a home loan from Santander. I intend to instruct a Licensed Conveyancer in Killamarsh. Does the Santander Conveyancing panel exclude conveyancers regulated by the CLC?

The Santander conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.

Our lawyer has discovered a a problem with the lease for the property we are buying in Killamarsh. The other side have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer has advised that he must check that the bank is happy with this solution. Are we the client or is the lender?

The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.

Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a quick, chain free conveyancing. Killamarsh is the location of the property. Can you shed any light on this issue?

Flying freeholds in Killamarsh are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Killamarsh you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Killamarsh may determine 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 residence.

Hoping to buy a property located in Killamarsh and I am already nervous. I couldn't find anything specific about Killamarsh. Conveyancing will be needed in due course but do you know about the Killamarsh area? or perhaps some other tips you can share?

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

I am looking at a two flats in Killamarsh which have about forty five years remaining on the leases. should I be concerned?

There is no doubt about it. A leasehold apartment in Killamarsh is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. For most purchasers and mortgage companies, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 property 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 Killamarsh conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 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.

I acquired a basement flat in Killamarsh, conveyancing formalities finalised July 1996. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Killamarsh with a long lease are worth £185,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease finishes on 21st October 2079

With just 60 years remaining on your lease the likely cost is going to be between £20,000 and £23,000 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.