It has come to my attention via my mortgage broker that my Lixwm property lawyer is not on the lender Solicitor panel. What can I do to check?

The first thing you need to do is to call your Lixwm conveyancer. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.

What can a local search reveal regarding the house I am buying in Lixwm?

Lixwm conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company for instance Searchflow The local search plays an important part in most Lixwm conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search will provide information on, amongst other things, details on planning applications relevant to the premises (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 headings.

I'm buying my first flat in Lixwm with a mortgage from Lloyds TSB Bank. The builders refused to reduce the amount so I negotiated 6k of extras instead. The estate agent told me not to tell my conveyancer about this side-deal as it could adversely affect my loan with the bank. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Am I better off to go with a Lixwm conveyancing lawyer in close proximity to the house I am hoping to buy? We have a good friend who can conduct the legal work but his firm is located over three hundred miles away.

The primary upside of using a high street Lixwm conveyancing practice is that you can visit the firm to execute documents, deliver your ID and pester them where appropriate. Having local Lixwm know how is a bonus. However it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and in the main were impressed that must trump using an unknown Lixwm conveyancing solicitor solely due to them being local.

I am attracted to a couple of flats in Lixwm which have in the region of 50 years left on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Lixwm is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. The majority of purchasers and banks, leases with under eighty years become less and less attractive. 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 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 premises 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 Lixwm 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. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

Lixwm Leasehold Conveyancing - Sample of Questions you should ask Prior to buying

Can you tell me if there are any major works in the near future that will likely add a premium to the service costs? Who is in charge of the building? On the whole the outlay for major works tend not to be included within service charges, albeit that there some managing agents in Lixwm require tenants to pay into a sinking fund and this is used to offset against major works.