Please help. My South Yorkshire lawyer is assuring me that he is legally obliged toapply for South Yorkshire conveyancing searches becausethe firm are on the Virgin Moneyapproved lawyer panel. Is my lawyer correct?

You have limited options available to you. As you are obtaining a home loan with a bank your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out South Yorkshire conveyancing searches.

I'm buying a new build house in South Yorkshire with a mortgage from HSBC Bank. The developers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not inform my conveyancer about this extras as it may jeopardize my loan with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I have been on the look out for a flat up to £305k and found one near me in South Yorkshire I like with a park and railway links nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in South Yorkshire suitable, so just wondered if I would be making a mistake buying a short lease?

Should you require a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you could request that they start the process of the extension and pass 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 about this matter.

What are your top tips when it comes to appointing a South Yorkshire conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a South Yorkshire conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggest that you talk with two or three firms including non South Yorkshire conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:

Can they put you in touch with clients in South Yorkshire who can give a testimonial?

I inherited a studio flat in South Yorkshire, conveyancing was carried out January 2012. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in South Yorkshire with over 90 years remaining are worth £206,000. The ground rent is £45 per annum. The lease finishes on 21st October 2091

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

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

My son is just in the process of moving home, the home loan was agreed last week in principle. One the seller agreed the offer on the apartment we called the mortgage company to progress the mortgage application. We were disappointed to hear that mortgage companies do not accept all conveyancing practitioner, they must be on their panel, is this legal?

Banks ordinarily imposes restrictions either the type or the number of conveyancing firms on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any South Yorkshire property lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.