My partner and I are planning to buy a flat in Shifnal and are in fact using a Shifnal conveyancing practice. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Bank of Ireland have this afternoon contacted us to advise us that there is now an issue as our Shifnal solicitor is not on their approved list of lawyers. Is this a problem?

When purchasing a property with the benefit of a mortgage it is usual for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Shifnal lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.

AssumingI were to buy a simple residential propertyin Shifnal for cash and dispense with a survey and no local authority searches how much should I expect to have to pay for conveyancing in Shifnal?

The sole saving you would achieve is the Shifnal conveyancing searches. The conveyancer still got to do everything else - money laundering, correspond with your sellers conveyancer, stamp duty submission, register the property etc. You might save a bit for them not having to register a mortgage however it will not be meaningful.

We're in Shifnal, First time buyers buying with a mortgage (lender is Leeds Building Society , and our lawyer is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer 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.

There are only Seventy years unexpired on my flat in Shifnal. I am keen to get lease extension but my landlord is missing. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the freeholder. On the whole an enquiry agent may be helpful to carry out a search and to produce an expert document to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the application to the County Court overseeing Shifnal.

Shifnal Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying

The prefered form of lease structure is a share of the freehold. In this scenario the leaseholders enjoy being in charge if their destiny and even though a managing agent is usually employed where it is bigger than a house conversion, the managing agent employed by the leaseholders. Generally speaking the outlay for major works are not included within maintenance charges, although there some managing agents in Shifnal obliged leasehold owners to pay into a sinking fund and this is used to offset against major works. It would be a good idea to discover if there is anything that is prohibited in the lease. For example it is very common in Shifnal leases that pets are not allowed in certain buildings in Shifnal. If you love the flatin Shifnal however your cat is not allowed to live with you then you will be faced hard choice.

I have miscalculated my finances and am a couple of thousand pounds short a 10% deposit on my flat purchase in Shifnal , but I am anxious exchange. Do I have options?

One option is to try and agree a lower deposit. Many property owners will accept a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment