Are the BSA planning on creating a searchable register to to identify law firms on the Melton Mowbray Building Society conveyancing panel for example in Wingate?

We have not been informed any intention on the part of the BSA to develop such a search facility.

It has been five months following my purchase conveyancing in Wingate completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Am I best advised to use a Wingate conveyancing lawyer who is local to the property I am buying? We have a good friend who can perform the conveyancing however they are based 300miles away.

The benefit of a local Wingate conveyancing practice is that you can pop in to sign paperwork, hand in your identification documents and apply pressure on them where appropriate. They will also have local intelligence which is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and on the whole were happy that must surpass using an unfamiliar Wingate conveyancing solicitor just because they are local.

I am looking at a two flats in Wingate both have about 50 years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Wingate is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most purchasers and banks, leases with less than 75 years become less and less attractive. On a more positive 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 property 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 Wingate conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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 inherited a 2 bed flat in Wingate, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Wingate with an extended lease are worth £216,000. The ground rent is £50 levied per year. The lease comes to an end on 21st October 2093

With only 69 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 plus legals.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.

I happen to be an executor of my recently deceased parent's Will, with a bungalow in Wingate which is to be marketed. The property is unregistered at the Land Registry and I'm advised that some EAs will insist that it is completed before they will proceed. What's the procedure for this?

In the situation you refer to it seems sensible to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.