I am in the process of selling my maisonette in Melton Constable and the EA has just telephoned to advise that the buyers are swapping solicitor. The excuse is that the lender will only work with property lawyers on their conveyancing panel. Why would a leading lender only work with specific law firms rather the firm that they want to select for their conveyancing in Melton Constable ?

Banks have always had panels of law firms that can represent them, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.

Lenders blame a rise in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any impact on this.

I have today made my last payment due on my mortgage with . I assume I don't need a Melton Constable on the panel to discharge 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

I have a mortgage with for my property in Melton Constable. Conveyancing has been completed months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform ?

You must advise in advance of renting your property as this is likely to be a breach of ’s mortgage conditions. It may be that will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact directly. You need not do this via a conveyancing panel solicitor.

Our sealed bid on a semi in Melton Constable has been agreed to, the owners do however have a connected purchase. The vendors have offered on on an apartment, but it’s not yet tied up, and have viewings of other apartments booked. I have instructed a high street conveyancing solicitor in Melton Constable. What do I do now? At what point do I apply for the mortgage with ?

It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx £1k, then survey, Melton Constable conveyancing search charges, etc). The first course of action is to check that your is on the approved list. As to the next stages this very much dictated by the circumstances of your transaction, motivation for this property and on the state of the market. In a buoyant market many purchasers would apply for the mortgage with and pay for the valuation and only if it comes back ok would they ask their to press on with the conveyancing in Melton Constable.

How does conveyancing in Melton Constable differ for newly converted properties?

Most buyers of new build or newly converted property in Melton Constable approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is built. This is because developers in Melton Constable usually buy the land, 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 accustomed to new build conveyancing in Melton Constable or who has acted in the same development.

I am looking for a ground for flat up to £245,000 and identified one close by in Melton Constable I like with amenity areas and station in the vicinity, the downside is that it's only got 61 years on the lease. There is not much else in Melton Constable for this price, so just wondered if I would be making a grave error acquiring a short lease?

If you require a home loan the shortness of the lease will be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.

Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in Melton Constable. I am keen to get lease extension but my landlord is missing. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you have done all that could be expected to track down the freeholder. For most situations an enquiry agent would be useful to try and locate and prepare a report to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court covering Melton Constable.

I am the registered owner of a split level flat in Melton Constable, conveyancing having been completed in 1995. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Melton Constable with over 90 years remaining are worth £165,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 50

With just 50 years remaining on your lease we estimate the premium for your lease extension to be between £36,100 and £41,800 as well as costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.