My partner and I are looking to buy a flat in Plymstock and have appointed a Plymstock conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. have this morning contacted us to advise us that they have now hit a problem as our Plymstock lawyer is not on their approved list of lawyers. Is this a problem?

When purchasing a property with mortgage finance it is standard for the purchasers' lawyers to also act for the purchaser's lender. 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 lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Plymstock lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.

Can your site be used to recommend a Conveyancing solicitor in Plymstock even if I’m not buying or disposing of a house, for example if I intend to acquire a shop in Plymstock with a mortgage from ?

The service is primarily used to get a quote from residential conveyancing solicitors in Plymstock but we have recorded towards the bottom of this page a few Plymstock commercial conveyancing firms. You should speak with the company directly to see if they are also authorised to represent

We're in Plymstock, First timers buying with a mortgage (lender is , and our solicitor is on the conveyancing panel). How long should the conveyancing process take?

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

We are close to exchanging contracts on the sale of our house in Plymstock and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local lawyer would know that there is no such problem. For the life of me I don't know why the purchasers are using a national conveyancing practice as opposed to a conveyancing solicitor in Plymstock. We have lived in Plymstock for six years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get clarification need.

It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)

I am looking at a two maisonettes in Plymstock both have in the region of fifty years unexpired on the lease term. should I be concerned?

There are no two ways about it. A leasehold apartment in Plymstock is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. The majority of buyers and lenders, leases with under 75 years become less and less marketable. 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 premises 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 Plymstock 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed 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 acquired a 1 bedroom flat in Plymstock, conveyancing formalities finalised 3 years ago. How much will my lease extension cost? Comparable properties in Plymstock with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 50

You have 50 years remaining on your lease we estimate the premium for your lease extension to be between £36,100 and £41,800 plus costs.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. 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 move forward based on this information before getting professional advice.