Forgive me if this question is silly but I am unexperienced as a first time purchaser of a two bedroom flat in Thornaby. Do I pick up the keys to the property on the completion date from my lawyer? If so, I will find a local conveyancing solicitor in Thornaby?

There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the completion advance to the owner’s lawyers, and once they have received this, you should be invited to pick up the keys from the Estate Agents and start moving into the property. Usually this happens between 1 and 3pm.

Is there a list of RBS panel solicitors in Thornaby on the UK Finance Lenders’ Handbook Website?

Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. A small selection of lenders make their panel listings open the public online. If you are in need of a Thornaby solicitor on the RBS please make the most of our facility.

Aldermore have agreed my mortgage in principle, my bid on a flat in Thornaby has been accepted, what happens next?

The property agent will wish to be advised as to your solicitor's details (make sure the solicitors are on the bank’s approved list). Contact Aldermore or your broker and complete any appropriate paperwork. Aldermore will sellect a valuer who will get in contact with the selling agent or owners to book an appointment. Once conducted (assuming no problems) it takes on average a week to get a mortgage offer. Aldermore will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Thornaby.

I have been told that property searches are the primary cause of stalling in Thornaby house deals. Is this right?

The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any holding up conveyancing in Thornaby.

I am buying my first flat in Thornaby with a loan from Clydesdale. The sellers refused to budge the amount so I negotiated £7000 of extras instead. The property agent suggested that I not to tell my conveyancer about the extras as it would adversely affect my loan with Clydesdale. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. Thornaby is the location of the property. Is there any advice you can impart?

Flying freeholds in Thornaby are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Thornaby you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Thornaby may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

I have just started marketing my garden flat in Thornaby. Conveyancing lawyers have not yet been instructed, however I have recently received a yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as usual because all rents and maintenance charges will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I own a split level flat in Thornaby, conveyancing having been completed 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Thornaby with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease finishes on 21st October 2081

With 55 years left to run we estimate the price of your lease extension to be between £31,400 and £36,200 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.