I plan on acquiring a ground floor flat in Stalybridge. My property lawyer is not listed on the mortgage company approved list. Can I still use my Stalybridge conveyancing solicitor even though they are not on the bank panel?

You have a number of alternatives available to you here

• Complete the purchase with your preferred Stalybridge conveyancer but your bank will undoubtedly retain a property lawyer from their approved panel. The net result is additional charges and potential delay.
• Get a fresh solicitor to conduct the conveyancing, ensuring that they are on the bank conveyancing panel.
• Convince your conveyancing practitioner to seek to join the bank panel

I am considering applying for a Co-operative mortgage for purchase of a newly converted (under development) in Stalybridge with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Co-operative ?

In theory, you could use a solicitor that is not on the Co-operative conveyancing panel, but Co-operative would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.

Over the last few months I have been searching for a ground for flat up to £305k and found one near me in Stalybridge I like with a park and station in the vicinity, the downside is that it's only got 52 years on the lease. There is not much else in Stalybridge suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you require a home loan that many years will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you may 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 and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.

I have been pointed in your direction by a number of property agents in Stalybridge to choose a property lawyer using your seach tool. What’s the financial upside for Estate Agents to market your services rather than alternative conveyancing organisations?

We don’t give any financial incentive for directing people to this site. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.

I've found a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Stalybridge. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Stalybridge ?

The majority of houses in Stalybridge are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Stalybridge so you should seriously consider shopping around for a Stalybridge conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.

I acquired a leasehold flat in Stalybridge, conveyancing was carried out 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Stalybridge with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ceases on 21st October 2105

With 80 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.