I am considering applying for a Lloyds mortgage for purchase of a new build (under development) in Sandy with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Lloyds ?

There is nothing to stop you using your solicitor, but Lloyds will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.

About to purchase a new build flat in Sandy. Conveyancing is a frightening process 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 legal work.

Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Sandy

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. Please confirm the Lease plans are architect prepared. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. There must be mutual enforceability of lessee’s covenants.

I decided to have a survey carried out on a property in Sandy before instructing conveyancers. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some lenders tend refuse to issue a mortgage on this type of house.

It varies from the lender to lender. Santander has different requirements from Halifax. If you contact us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Sandy. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Sandy to see if the conveyancing costs will increase in light of this.

I need to appoint a conveyancing solicitor for leasehold conveyancing in Sandy. I've stumble upon a web site which appears to be the ideal offering If it is possible to get all formalities completed via phone that would be ideal. Do I need to be wary? What are the potential pitfalls?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Sandy. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

The majority of houses in Sandy are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Sandy in which case you should be shopping around for a Sandy conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your lawyer should report to you on the legal implications.

I acquired a leasehold flat in Sandy, conveyancing formalities finalised December 2012. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Sandy with an extended lease are worth £181,000. The ground rent is £55 yearly. The lease expires on 21st October 2076

With only 51 years unexpired the likely cost is going to span between £30,400 and £35,200 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.