Unfortunately I am unable to travel far from Freshwater Bay. Is there a reason why all Freshwater Bay aren't automatically on all bank panels?

A decade ago most mortgage companies exhibited an approach to risk which differs from the current day. The FSA in 2010 conducted a thematic review into property fraud which in summary warned lenders: know the on your panel. Consequently, lenders have since requiredmore 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. Hundreds of firms have been removed from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the criteria of amount of transactions the lenders insisted on.

We are purchasing a house in Freshwater Bay. It might be a silly question but how we can trust a conveyancer? At some point we have to deposit funds into their account. What protection do we have from them run away with our monies?

Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.

I have paid off my mortgage with . I assume I don't need a Freshwater Bay on the panel to remove the mortgage at the Land Registry. Please confirm.

If you have finished paying off your 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 mortgage from the register. , 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 has sent the Land Registry the discharge electronically, and
3. has instructed the Land Registry to do so

Completion of my purchase has taken place for my property in Freshwater Bay. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?

Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.

I have been told that property searches are the number one cause of obstruction in Freshwater Bay house deals. Is that correct?

The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Freshwater Bay.

What does commercial conveyancing in Freshwater Bay cover?

Non domestic conveyancing in Freshwater Bay covers a broad array of advice, provided by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.

I am tempted by the attractive purchase price for a couple of flats in Freshwater Bay which have approximately fifty years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Freshwater Bay is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the value of the property. The majority of purchasers and banks, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 residence 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 Freshwater Bay 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 own a ground floor flat in Freshwater Bay, conveyancing having been completed 1995. How much will my lease extension cost? Comparable properties in Freshwater Bay with an extended lease are worth £165,000. The ground rent is £45 invoiced every year. The lease ceases on 21st October 50

With just 50 years unexpired we estimate the premium for your lease extension to be between £36,100 and £41,800 plus legals.

The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.