Am I correct in assuming that the fact that my solicitor in Killamarsh is not listed on my lender's solicitor panel that there is a problem with the standard of her work?

It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Killamarsh conveyancing firm and enquire why they are no longer on the approved list for your lender.

My grandson is in the process of securing a new build apartment in Killamarsh with a mortgage from Virgin Money. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?

The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

How does conveyancing in Killamarsh differ for new build properties?

Most buyers of new build property in Killamarsh approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Killamarsh typically buy 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 Killamarsh or who has acted in the same development.

I am looking for a ground for flat up to £235,500 and found one near me in Killamarsh I like with open areas and transport links nearby, however it's only got 49 years unexpired on the lease. There is not much else in Killamarsh in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?

If you require a home loan the shortness of the lease may be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Killamarsh. Conveyancing advisers have not yet been appointed. Will they explain the issues?

Most houses in Killamarsh are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. it is apparent that you are purchasing in Killamarsh in which case you should be looking for a Killamarsh conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will advise you fully on all the issues.

Leasehold Conveyancing in Killamarsh - Sample of Questions you should consider before buying

Is the freehold reversion owned collectively by the leaseholders? How many years are left on the lease? Please note if it is fewer than 80 years it will have adverse implications on the value of the flat. Check with your bank that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth discovering how much this will be. Remember, in most cases you will be be obliged to have owned the property for 24 months before you are eligible to extend the lease.