I am considering applying for a mortgage for purchase of a new build (under development) in Mickleover with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for ?

There is nothing to stop you using your solicitor, but will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.

How does conveyancing in Mickleover differ for new build properties?

Most buyers of new build or newly converted property in Mickleover come to us having been asked by the seller to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Mickleover tend to purchase 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 used to new build conveyancing in Mickleover or who has acted in the same development.

I have been on the look out for a ground for flat up to £195,000 and found one round the corner in Mickleover I like with a park and station in the vicinity, however it only has 49 remaining years left on the lease. I can't really find anything else in Mickleover suitable, so just wondered if I would be making a grave error buying a lease with such few years left?

If you require a mortgage the shortness of the lease will be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.

I need to retain a conveyancing solicitor for remortgage conveyancing in Mickleover. I have discover a site which looks to be the perfect answer If it is possible to get all the legals done via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

Mickleover Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying

Where a Mickleover lease has less than eighty years it will affect the value of the property. Check with your bank that they are willing to lend given the lease term. A short lease means that you will almost definitely have to extend the lease sooner rather than later and it is worth discovering what this would cost. Remember, in most cases you would need to own the premises for a couple of years before you are entitled to extend the lease. What is the yearly maintenance fee and ground rent? Best to be warned whether a new roof is being put on or some other major work is due in the near future to be shared by the leasehold owners and will dramatically impact the level of the service fees or result in a one off invoice.