We're in Walsingham, First timers buying with a mortgage (lender is Virgin Money , and our solicitor is on the Virgin Money conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

Can you help - my lawyer advises that lack of building regulations insurance is required on my purchase. What is the level of cover for Walsingham conveyancing?

The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between Barclays and Chelsea Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.

When it comes to lenders such as Nottingham, do Walsingham lawyers have to pay a fee to be on the list of approved solicitors?

We are unaware of any bank fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.

We were going to get a AIP from Coventry BS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Coventry BS recommend any Walsingham solicitors on the Coventry BS conveyancing panel, or is it better to find our own lawyer?

You will need to appoint Walsingham solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.

Just had an offer accepted on a new build flat in Walsingham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Walsingham

There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please supply a car parking plan.

I'm converting the mortgage on my existing house to a buy to let loan with The Mortgage Works and intend to use the remaining equity as a down payment on further property. The neighborhood we are looking at is Walsingham. Will your solicitors be able to act for the two banks and link together the transactions?

Make use of our comparison tool on this site to check that the conveyancers are approved by both banks. Assuming that they are the solicitor should be able to simultaneously deal with the two deals but you should talk with you lawyer and make clear your desired outcome and needs.

I own a leasehold flat in Walsingham. Conveyancing was completed in 2010. I have read on numerous consumer forums that I should not let the the remaining lease term to fall too short. Is this right?

Walsingham leasehold properties are for a set term - normally ninety nine years when they are first granted. However many appartments in Walsingham were constructed or converted in the 60’s and so such leases now have less than eighty years unexpired. This may sound like plenty of time but Banks, Building Societies and other mortgage companies generally require leases to have at least 75 years left to adequate security. This means that when you come to sell the property you will need a lease extension if you are approaching 75 years. To optimize your property value you should be considering whether or not to extend your lease well in advance of selling the property. There are also significant benefits to taking action before the lease hits eighty years as when the lease is below eighty years the premium you have to pay to extend starts to increase.