My wife and I are intent on acquiring residence in Ruddington. My property lawyer is not on the lender approved list. Can I still continue with my Ruddington conveyancing solicitor notwithstanding that they are not on the lender panel of approved conveyancing solicitors?

You must appoint a lawyer to complete the formalities when you need a loan to buy your property. The conveyancer will carry out all the necessary investigations on the property, make sure that you will be properly registered as the owner and ensure that all the required mortgage documentation is dealt with. One could select a Ruddington solicitor of your choosing. However, where the conveyancing practitioner selected is not a member of the lender solicitor panel further fees will arise as separate legal representation will be need by the bank. Bank panel applications can be submitted, so provided your lawyer has not historically sought membership they should do so.

I require quick conveyancing in Ruddington as I have an ultimatum to complete inside 4 weeks. Thankfully I do not need a mortgage. Is it possible to escape the need for conveyancing searches to save fees and time?

If.Given you are are a mortgage free buyer you are at liberty not to have searches conducted although no conveyancer would suggest that you don't. Drawing on years of experience of conveyancing in Ruddington the following are instances of issues that can be revealed and adversely impact market value: Enforcement Notices, Overdue Fees, Outstanding Grants, Railway Schemes,...

How does conveyancing in Ruddington differ for newly converted properties?

Most buyers of new build or newly converted property in Ruddington contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Ruddington usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Ruddington or who has acted in the same development.

I’m about to sell my basement apartment in Ruddington. Conveyancing solicitors are to be appointed soon, however I have just received a yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay the invoice as normal as all ground rent and service charges will be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I own a 1 bedroom flat in Ruddington, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Ruddington with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2080

With just 54 years left to run we estimate the premium for your lease extension to be between £32,300 and £37,400 plus professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

Estate agents have just been given the go-ahead to market my ground floor apartment in Ruddington.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – what should I do?

It best that you clear the invoice as you normally would because all ground rent and maintenance charges should be allottedas part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially