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

The first thing you need to do is to contact your Nottingham conveyancer. You lawyer should notify you what has happened. Where they are not on the panel they may recommend you to a Nottingham conveyancing practice that is on the approved list of lawyers for your lender.

Is there a reason why leasehold purchase conveyancing in Nottingham is more expensive?

The conveyancing fees for a leasehold premises in Nottingham is often more expensive than on a freehold residence. This is due to the additional work necessary in communicating with the freeholder and management company to collate the information about whether the rent and service fee have been paid and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the building.

I have todayfound out that Action Conveyancing have closed. They carried out my conveyancing in Nottingham for a purchase of a leasehold flat 18 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?

The easiest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Nottingham conveyancing specialists.

Over the last few months I have been searching for a ground for flat up to £245,000 and found one close by in Nottingham I like with open areas and railway links in the vicinity, however it only has 52 years on the lease. I can't really find anything else in Nottingham for this price, so just wondered if I would be making a mistake acquiring a short lease?

If you need a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.

Are there frequently found deficiencies that you come across in leases for Nottingham properties?

There is nothing unique about leasehold conveyancing in Nottingham. Most leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

A provision for the recovery of money spent for the benefit of another party.

You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Chelsea Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

I purchased a 1st floor flat in Nottingham, conveyancing formalities finalised 3 years ago. How much will my lease extension cost? Corresponding flats in Nottingham with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2091

With only 66 years unexpired we estimate the price of your lease extension to be between £11,400 and £13,200 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.