My partner and I are intent on buying a flat in Torpoint. My Solicitor has never been on on the lender approved panel. Is it possible for me to use my Torpoint conveyancing solicitor even though they are excluded from the mortgage company panel of approved conveyancing solicitors?

Various options include

• Carry on with your existing Torpoint conveyancing practitioner but your mortgage company will need to instruct a conveyancer on their approved panel. The net result is additional charges and probable frustration.
• Appoint a new conveyancing practitioner to act in the purchase, ensuring that they are on the bank conveyancing panel.
• Convince your solicitor to pull out all the stops to get accepted on the mortgage company panel of solicitors

I require conveyancing for an apartment in a relatively new development (6 years old) in Torpoint. 95% of the flats have already been sold. Do I need carry out the conveyancing searches for my conveyancing in Torpoint?

Conveyancing Searches are a central link in the Torpoint conveyancing process. There are hundreds companies conducting Torpoint conveyancing searches, as well direct from the local authority. These are known collectively as personal search organisation and they produce, not surprisingly, personal searches. However, all Local Authority Search conveyancing products have one thing in common - they must secure their information from the local authority.

My home in Torpoint is up for sale and I have a purchaser. Does my conveyancer need to be required to be on the Coventry BS conveyancing panel in order to deal with the discharge of my mortgage?

Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.

I'm refinancing my existing property to a BTL mortgage with The Mortgage Works and I will use the rest of the raised equity towards further property. The location we are talking about is Torpoint. Will your conveyancers be able to act for the two banks and link together the transactions?

Do use our comparison tool on this page to be sure that the solicitors are approved by both mortgage companies. Assuming that they are your lawyer will be able to connect the two conveyancing matters but you should talk with you conveyancer and communicate your desired outcome and requirements.

I am looking at a couple of maisonettes in Torpoint which have approximately fifty years left on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold flat in Torpoint is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the value of the premises. The majority of purchasers and mortgage companies, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Torpoint conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am the registered owner of a 1 bedroom flat in Torpoint, conveyancing formalities finalised in 1995. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Torpoint with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 yearly. The lease finishes on 21st October 2088

With just 65 years unexpired the likely cost is going to span between £13,300 and £15,400 as well as costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. 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 before seeking the advice of a professional.