Please explain the implications if my solicitor is suspended from the Virgin Money Solicitor panel ahead of completing my conveyancing in Sutton Coldfield?

The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

I have been told that property searches are the number one reason for hinderance in Sutton Coldfield house deals. Is there any truth in this?

The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Sutton Coldfield.

I'm remortgaging my existing house to a buy to let mortgage with TSB and intend to use the remaining equity as a down payment on a second property. The area we are interested in is Sutton Coldfield. Will your lawyers be able to act for both sets of banks and link together the two deals?

Do use our comparison tool on this page to check that the conveyancers are on the relevant lender panels. On the basis that they are the lawyer will be able to tie up the two deals but you should talk with you solicitor and specify your desired outcome and needs.

We're first time buyers - agreed a price, yet the property agent advised that the seller will only proceed if we use the agent's preferred solicitors as they are insisting on a ‘quick sale’. Our preferred option is to instruct a high street solicitor with experience of conveyancing in Sutton Coldfield

It is highly unlikely the sellers are behind this. If they desire ‘a quick sale', turning down a serious purchaser is counter productive. Try to communicate with the owners directly and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you intend to appoint your preferred Sutton Coldfield conveyancing lawyers - rather thanthe ones that will give the negotiator at the agency a referral fee or hit his conveyancing thresholds pre-set by head office.

I am employed by a busy estate agency in Sutton Coldfield where we see a few leasehold sales derailed as a result of short leases. I have received contradictory information from local Sutton Coldfield conveyancing firms. Please can you confirm whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I own a garden flat in Sutton Coldfield, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Sutton Coldfield with over 90 years remaining are worth £191,000. The ground rent is £55 levied per year. The lease expires on 21st October 2078

With only 53 years remaining on your lease we estimate the price of your lease extension to be between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.