Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one close by in Royston I like with open areas and station nearby, the downside is that it only has 49 years unexpired on the lease. There is not much else in Royston in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?

Should you need a mortgage the shortness of the lease will likely be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.

Hoping to buy a property located in Royston and I am already nervous. I couldn't find anything specific about Royston. Conveyancing will be needed in due course but do you know about the Royston area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Royston. In the meantime here are some basic statistics that we found

My husband and I are new on the property ladder - had an offer accepted, yet the property agent told us that the owners will only proceed if we appoint their chosen conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a local conveyancer with experience of conveyancing in Royston

We suspect that the seller is not behind this request. Should the owner desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is not the way to achieve this. Speak to the vendors direct and make the point that (a)you are serious buyers (b)you are excited to move forward, with finances in place © you are chain free (d) you intend to proceed fast (e)however you will continue to use your preferred Royston conveyancing firm - not the ones that will give their estate agent a commission or meet his conveyancing figures set by HQ.

Can you provide any advice for leasehold conveyancing in Royston from the perspective of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Royston can be reduced if you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Royston state that internal structural changes or addition of wooden flooring require a licence issued by the Landlord acquiescing to such changes. If you dont have the approvals to hand do not contact the landlord without contacting your conveyancer first. Some Royston leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unsettled.

Royston Leasehold Conveyancing - A selection of Questions you should consider Prior to buying

How many years remain on the lease? For most Royston leaseholds the cost for major works tend not to be built into the maintenance charges, although a few managing agents in Royston require leasehold owners to pay into a sinking fund and this is used to offset against larger repairs or maintenance. The answer will be important as a) areas could cause problems for the building as the communal areas may start to deteriorate where services remain unpaid b) if the leaseholders have an issue with the managing agents you will want to know about it

I have noted on various consumer advice websites that when selecting a conveyancing solicitors they must be approved by your mortgage company. I am new to the process but I have an offer in principle via Nat West Bank and I already have a bricks and morter conveyancing lawyer in Royston on standby. Does HSBC require an approved solicitor to be instructed? Does a directory of approved firms even exist so I can appoint a conveyancing lawyer in Royston?

You need to use a solicitor that is on the HSBC panel. Just ring your preferred Royston conveyancing solicitor and ask if they are on the HSBC panel. If they are not approved you have a number of alternatives available to you here:

• Proceed with your existing Royston property lawyer but HSBC will undoubtedly retain a lawyer on their approved panel. This will result in additional fees together with probable frustration.
• Get a new conveyancing practitioner to conduct the conveyancing, making sure they are on the HSBC conveyancing panel.
• Convince your conveyancing practitioner to pull out all the stops to get accepted on the HSBC conveyancing panel.