I had intended to instruct a property lawyer in Stanley for our house purchase. Our broker informed us that our mortgage lenders Virgin Money won't deal with them. Surely this is unduly restrictive?

A decade ago most banks had an appetite for risk which was higher than today. Almost all Stanley conveyancing firms would have been on most bank panels. The financial services regulator in 2010 conducted a thematic investigation into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more information from law firms concerning their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum amount of transactions. Many Stanley conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Stanley is amongst the numerous areas where the solicitors showing on our search results are on the panel for Virgin Money.

If you had a top tip for selecting a conveyancing solicitor in Stanley what would it be?

Do not opt for the cheapest Stanley conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.

I am due to exchange contracts on my flat. I had a double glazing fitted in March 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Santander are being pedantic. The Stanley solicitor who is on the Santander conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Santander are insisting on a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?

It is probably the case that Santander have referred the matter to their valuer. The reason why Santander may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.

I have finally had an offer on a maisonette in Stanley agreed to, but there is a chain. The owners have offered on a flat, but it’s not yet tied up, and have viewings of other properties booked. I have selected a nearby conveyancing solicitor in Stanley. What do I do now? At what stage do I apply for the mortgage with Virgin Money?

It is usual to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is in the region of one thousand pounds, then survey, Stanley conveyancing search charges, etc). First, you should ensure that your lawyer is on the Virgin Money conveyancing panel. Concerning the next stages this very much depends on the uniqueness of your transaction, motivation for this property and on the state of the market. In a rising market the majority of buyers will apply for the mortgage with Virgin Money and arrange for the valuation and only if it comes back ok would they pay their property lawyer to move forward with searches.

What does a local search tell me concerning the house I am purchasing in Stanley?

Stanley conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company such as Onsearch The local search plays an important part in most Stanley conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your new home. The search will reveal information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.

My company is planning to lease a unit on a shopping parade. Can you recommend conveyancers offering fixed charges for commercial conveyancing in Stanley for below £2000?

We are happy to recommend firms who have well rounded knowledge of commercial conveyancing in Stanley, including the disposal and acquisition of businesses as well as simply property. If you are looking to purchase or dispose of a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right solicitor. As for the fees this will depend on the structure and heads of terms of the deal. Please provide us with your details or telephone so as to enable us to provide you with comprehensive commercial conveyancing calculation.

What are the frequently found defects that you see in leases for Stanley properties?

There is nothing unique about leasehold conveyancing in Stanley. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

A provision to repair to or maintain elements of the property

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Chelsea Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.

Leasehold Conveyancing in Stanley - A selection of Questions you should consider Prior to Purchasing

Are there any major works on the horizon that could increase the maintenance fees? Where a Stanley lease has less than eighty years it will have adverse implications on the salability of the flat. It is worth checking with your bank that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you would need to own the premises for a couple of years before you are legally able to extend the lease. How many of the leaseholders are in arrears for their maintenance charge payments?