I can't travel far from Market Drayton. What is the rationale as to why all Market Drayton solicitors aren't automatically on all mortgage company panels?

A decade ago most lenders demonstrated an attitude to risk which differs from the current day. The financial regulator in 2010 instigated a thematic review into property fraud which in summary warned lenders: know the lawyers on your panel. Accordingly, banks have subsequently soughtmore data from law firms concerning their operations and the staff who work for them and set certain criteria such as completing a minimum amount of transactions. Hundreds of law practices have found themselves excluded from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the criteria of volume of transactions the mortgage companies required.

At what point does exchange of contracts take place for domestic conveyancing in Market Drayton and do I need to attend the conveyancers branch?

If you are round the corner to one of the conveyancing solicitors in Market Drayton you are invited in to sign the paperwork. That being said, the firms we recommend offer a national conveyancing service and give as equally comprehensive and professional a job for you when dealing with you electronically. The signing of the purchase agreement is not the critical part. A signed contract is necessary for the solicitor to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Market Drayton)to be in the office at the appropriate time.

I have justfound out that Stirling Law have closed. They conducted my conveyancing in Market Drayton for a purchase of a leasehold apartment 12 months ago. How can I check that the property is registered correctly in the name of the previous owner?

The easiest way to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Market Drayton conveyancing specialists.

Just had an offer accepted on a new build apartment in Market Drayton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Market Drayton

Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?

Back In 2005, I bought a leasehold flat in Market Drayton. Conveyancing and Lloyds TSB Bank mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Market Drayton who acted for me is not around. Any advice?

First contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Market Drayton conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I bought a garden flat in Market Drayton, conveyancing formalities finalised 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Market Drayton with an extended lease are worth £195,000. The ground rent is £45 invoiced annually. The lease terminates on 21st October 2089

With just 63 years left to run the likely cost is going to span between £16,200 and £18,600 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.