Please explain the implications if my lawyer’s firm is suspended from the Skipton Solicitor panel ahead of completing my conveyancing in Market Bosworth?

The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.

Should my lawyer be raising enquiries about flooding as part of the conveyancing in Market Bosworth.

Flooding is a growing risk for lawyers dealing with homes in Market Bosworth. Some people will acquire a house in Market Bosworth, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.

Lawyers are not best placed to give advice on flood risk, however there are a number of checks that may be initiated by the purchaser or on a buyer’s behalf which will give them a better understanding of the risks in Market Bosworth. The conventional set of property information forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the vendor to discover whether the premises has historically flooded. If flooding has previously occurred which is not notified by the seller, then a purchaser could issue a legal claim for losses as a result of such an inaccurate reply. A purchaser’s lawyers will also conduct an enviro report. This will indicate whether there is a recorded flood risk. If so, further inquiries will need to be initiated.

I decided to have a survey completed on a property in Market Bosworth in advance of retaining lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some banks will refuse to give a mortgage on such a house.

It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Market Bosworth. Conveyancing will be smoother if you use a solicitor in Market Bosworth especially if they are familiar with such properties in Market Bosworth.

Is it simple use the search tool to choose a conveyancing lawyer in Market Bosworth on the authorised to act for my mortgage?

First choose a bank such as HSBC Bank, Skipton Building Society or Barclays Direct then specify your location for example Market Bosworth. Conveyancing practices in Market Bosworth and across England and Wales should be shown.

My wife and I purchased a leasehold house in Market Bosworth. Conveyancing and National Westminster Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Market Bosworth who acted for me is not around. Do I pay?

First make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to instruct a Market Bosworth conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I inherited a 1 bedroom flat in Market Bosworth, conveyancing was carried out in 2007. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Market Bosworth with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 levied per year. The lease terminates on 21st October 2079

You have 53 years left to run we estimate the price of your lease extension to be between £27,600 and £31,800 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.