Our lawyer has uncovered a defect with the lease for the apartment we are buying in Old Swan. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer has advised that he must be satisfied that the mortgage company is willing to move forward with this solution. Who is the client here, us or the lender?

Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. These conveyancing instructions have to be complied with.

A friend informed me that in buying a property in Old Swan there could be a number of restrictions as to what one can do in terms of external changes to the property. Is this right?

We are aware of anumerous of properties in Old Swan which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Old Swan should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

Is there a list of Aldermore panel conveyancers in Old Swan on the Building Society Association’s Website?

No. There is no such facility on the CML or Building Society Association sites. A small selection of lending institutions make their panel listings viewable online. Where you are seeking to appoint a Old Swan solicitor on the Aldermore please make the most of our facility.

is it true that all Old Swan solicitor practices on the RBS conveyancing panel are governed by the SRA?

As a firm of solicitors, in order to be on the RBS conveyancing panel they would need to be regulated by the SRA. Many mortgage companies do allow licenced conveyancers on their panel and in such a situation the practice would be regulated by the CLC.

Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a quick, no chain conveyancing. Old Swan is the location of the property. What do you suggest?

Flying freeholds in Old Swan are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Old Swan you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Old Swan may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

I am using a search engine for the words on line conveyancing in Old Swan it brings up numerous property lawyersin the vicinity. How do I determine which is the suitable property lawyer for me?

The ideal method of choosing the right conveyancer is through a trusted testimonial, so seek the counsel of colleagues and family who have acquired a property in Old Swan or a reputable estate agent or financial adviser. Fees for conveyancing in Old Swan differ, so it's a good idea to request at least four estimates from varying types of companies. Make sure that you know that the costs are assured not to escalate.

My partner and I may need to rent out our Old Swan ground floor flat for a while due to taking a sabbatical. We instructed a Old Swan conveyancing practice in 2003 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

The lease dictates relations between the landlord and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Old Swan do not prevent subletting altogether – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I acquired a 2 bed flat in Old Swan, conveyancing formalities finalised November 1998. How much will my lease extension cost? Corresponding flats in Old Swan with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease terminates on 21st October 2075

With just 50 years remaining on your lease we estimate the premium for your lease extension to span between £31,400 and £36,200 plus professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. 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. Please do not move forward based on this information before seeking the advice of a professional.