I do hope you can help me. My Wolverton solicitor is informing me me that he has toconduct Wolverton conveyancing searches asthe firm are on the HSBCsolicitor panel. Is this really necessary?

You have limited options available to you. Given that you are taking out a loan with a bank your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Wolverton conveyancing searches.

We expect to receive a OIP from Principality this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Principality recommend any Wolverton solicitors on the Principality conveyancing panel, or is it better to find our own lawyer?

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

I have paid off my mortgage with Virgin Money. I assume I don't need a Wolverton property lawyer on the Virgin Money panel to remove the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Virgin Money has sent the Land Registry the discharge electronically, and
3. Virgin Money has instructed the Land Registry to do so

My offer on a detached house in Wolverton has been agreed to, the sellers do however have a tied purchase. The sellers have offered on on an apartment, but it’s not been accepted yet, and have viewings of other flats in the pipeline. I have instructed a nearby conveyancing solicitor in Wolverton. What should be my next step? When should I get the mortgage application with Virgin Money going?

It is normal to have concerns where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx one thousand pounds, then survey, Wolverton conveyancing search fees, etc). The first course of action is to ensure that your conveyancer is on the Virgin Money approved list. Concerning the next steps this very much dictated by the uniqueness of your case, motivation for this property and on the state of the market. In a hot market many buyers will apply for a home loan with Virgin Money and pay for the valuation and only if it was satisfactory would they request their solicitor to move forward with searches.

3 months have gone by since my purchase conveyancing in Wolverton took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 premises 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.

We're first time buyers - agreed a price, yet the selling agent informed us that the owners will only go ahead if we appoint the agent's chosen lawyers as they need a ‘quick sale’. Our preferred option is to instruct a high street conveyancer who is accustomed to conveyancing in Wolverton

It is highly unlikely the sellers are behind this. If they desire ‘a quick sale', turning down a motivated purchaser is not the way to achieve this. Try to communicate with the owners directly and explain that (a)you are keen to buy (b)you are ready to go, with finances arranged © you do not need to sell (d) you wish to move quickly (e)however you are going to use your preferred Wolverton conveyancing solicitors - not the ones that will give the negotiator at the agency a referral fee or meet his conveyancing targets demanded by corporate headquarters.

I am attracted to a couple of maisonettes in Wolverton which have approximately fifty years unexpired on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Wolverton 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. For most buyers and banks, leases with under 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 premises 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 Wolverton 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 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.

Leasehold Conveyancing in Wolverton - Examples of Questions you should consider before buying

On the whole the outlay for major works tend not to be included within service charges, albeit that there some managing agents in Wolverton ask tenants to contribute towards a sinking fund created for the specific intention of building a fund for larger works. Make sure you enquire if there are any onerous prohibitions in the lease. For instance it is reasonably common in Wolverton leases that pets are not permitted in certain buildings in Wolverton. If you love the propertyin Wolverton yet your dog is not allowed to move with you then you will be presented with a hard choice. This question is important as a) areas could cause problems in the building as the communal areas may start to deteriorate where maintenance are not paid for b) if the leasehold owners have a dispute with the running of the building you will want to have all the details