I am hoping to receive a offer of a home loan from Lloyds. I hope to use a Licensed Conveyancer in Market Rasen. Does the Lloyds Solicitor panel allow for conveyancers regulated by the CLC?

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

My partner and I are nearing an exchange on a house in Market Rasen and my parents have transferred the exchange deposit to my property lawyer. I am now told that as the deposit has been sent from someone other than me my conveyancer needs to disclose this to my bank. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?

The conveyancer is obliged to check with the bank to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.

The Market Rasen conveyancing firm that I recently instructed on my purchase in Market Rasen have suddenly shut down. They were on acting for me because I needed a solicitor on the Bank of Ireland conveyancing panel and my family Market Rasen lawyer was not. I paid them 275 plus VAT in advance. What do I do now?

If you have an estate agent involved then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.

Just had an offer accepted on a new build apartment in Market Rasen. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Market Rasen

The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.

I have been on the look out for a leasehold apartment up to £245,000 and identified one round the corner in Market Rasen I like with amenity areas and transport links in the vicinity, however it only has 52 years on the lease. There is not much else in Market Rasen in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?

If you require a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.