My mortgage broker has asked me for my Stapleton solicitor’s panel member for the HSBC conveyancing panel. What is the best way to discover this. I have e-mailed my local Stapleton branch but they have not got back to me yet.

The sensible thing to do is ask for this information from your Stapleton . They keep a central record lender panel numbers.

Due to the encouragement of my in-laws I had a survey completed on a property in Stapleton prior to instructing solicitors. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies may refuse to grant a loan on a flying freehold home.

It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Stapleton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Stapleton to see if the conveyancing will be more expensive.

How can the Landlord & Tenant Act 1954 affect my commercial premises in Stapleton and how can your lawyers assist?

The particular law that you refer to affords protection to business leaseholders, granting the right to apply to court for a new tenancy and remain in occupation at the end of the lease term. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and assist with commercial conveyancing in Stapleton

I am tempted by the attractive purchase price for a two apartments in Stapleton both have in the region of fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena.

Leasehold Conveyancing in Stapleton - A selection of Queries before Purchasing

How many years remain on the lease? What prohibitions are contained in the Stapleton Lease? The majority of Stapleton leasehold apartments will have a service bill for maintenance of the building invoiced on behalf of the freeholder. If you purchase the apartment you will have to meet this charge, usually in instalments accross the year. This can differ from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a rentcharge for you to pay yearly, normally this is not a large amount, say about £50-£100 but you need to check as occasionally it can be surprisingly expensive.

I own a leasehold flat in Stapleton. Conveyancing was finalised in last year. I have been told that I should not let the lease length fall too short. Why is that a problem?

Stapleton leasehold properties are for a set period - normally ninety nine years when they commenced. However many appartments in Stapleton were built or converted 20 or more years ago and so these leases now have under 80 years left to run. This may sound like a long time however Banks, Building Societies and other mortgage institutions tend to require leases to have a minimum of seventy five years unexpired to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are nearing 75 years. To increase your property value you should be considering whether to extend your lease well in advance of selling the property. There are also significant benefits to taking action before the lease hits 80 years as when the lease is less than 80 years the premium to be paid to extend starts to escalate.