I am not well enough to travel far from Great Ayton. What is the rationale as to why all Great Ayton conveyancing practitioners are not on all lender panels?

Before the recession most mortgage companies displayed an attitude to risk which differs from the current day. The financial regulator in 2010 instigated a thematic review into fraud which in summary warned lenders: know the property lawyers on your panel. Consequently, mortgage companies have since looked to extract more information from law firms regarding their operations and the staff who work for them and set certain criteria such as completing a minimum number of transactions. Thousands of firms have found themselves excluded from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of amount of transactions the lenders insisted on.

We are expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel solicitor as I would prefer to use a Great Ayton based conveyancing firm?

You should check but the chances are that give you one of their panel conveyancers where you want the "fee-free" incentive. Call the mortgage company and check if they allow a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Great Ayton.

I have been on the look out for a ground for flat up to £305k and found one close by in Great Ayton I like with amenity areas and station nearby, however it only has 51 years unexpired on the lease. There is not much else in Great Ayton in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?

If you need a mortgage the remaining unexpired lease term may be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.

My fiance and I may need to sub-let our Great Ayton 1st floor flat for a while due to a new job. We used a Great Ayton conveyancing practice in 2004 but they have closed and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Notwithstanding that your previous Great Ayton conveyancing lawyer is not available you can review your lease to check if you are permitted to let out the apartment. The rule is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you must obtain permission from your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet without first obtaining permission. Such consent must not not be unreasonably withheld. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

Great Ayton Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

Is the freehold reversion owned jointly by the leaseholders? Who manages the block? How much is the annual maintenance fee and ground rent?

Can you clarify the spectrum of conveyancing supplied by Great Ayton conveyancing firms?

For the most part Great Ayton conveyancing practices will offer a wide spectrum of services to domestic and agricultural land owners, sellers, investors, freeholders and leaseholders which may include:

Home sale conveyancing in Great Ayton or nationally House purchase conveyancing in Great Ayton and countrywide New Build Full and Part Exchange Resolving boundary disputes between neighbours Planning and boundary enquiries Shared equity purchase (part buying and part renting)