What happens if my solicitor is removed from the Clydesdale Solicitor panel ahead of completing my conveyancing in Umberleigh?

The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

Various online forums that I have come across warn that are the main cause of delay in Umberleigh conveyancing transactions. Is that correct?

The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any holding up conveyancing in Umberleigh.

I opted to have a survey carried out on a property in Umberleigh prior to appointing conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some lenders may refuse to grant a loan on a flying freehold premises.

It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Umberleigh. Conveyancing will be smoother if you use a solicitor in Umberleigh especially if they are accustomed to such properties in Umberleigh.

I wish to rent out my leasehold apartment in Umberleigh. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Some leases for properties in Umberleigh do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I inherited a 1 bedroom flat in Umberleigh, conveyancing was carried out in 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Umberleigh with a long lease are worth £171,000. The ground rent is £50 charged once a year. The lease runs out on 21st October 2105

You have 79 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.

I own a leasehold flat in Umberleigh. Conveyancing was completed in 2010. I have read on numerous consumer forums that I mustn’t let the lease length fall too short. Is this correct?

Umberleigh residential long term leases are for a set term - usually ninety nine years when they commenced. However a significant appartments in Umberleigh were built or converted in the 60’s and so such leases now have fewer than 80 years unexpired. This may seem like a long time however Banks, Building Societies and other mortgage institutions on the whole need leases to have at least 75 years unexpired to be mortgageable. This means that when you come to sell the property you will need a lease extension if you are approaching seventy five years. To increase the marketability of your property you should be thinking about whether to extend your lease long before you come to sell it. There are also advantages to doing so before the lease reaches even 80 years as when the lease falls below eighty years the premium to be paid to extend starts to get a lot more expensive.