I am progressing with the sale of my home in Marske By The Sea and the EA has just e-mailed to advise that the buyers are swapping law firm. The reason given is that the mortgage company will only work with property lawyers on their approved list. On what basis would a big named mortgage company only deal with certain solicitors rather the firm that they want to select to handle their conveyancing in Marske By The Sea ?

Banks have always had an approved set of law firms they are content to work with, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.

Mortgage companies attribute this action to a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any sway in the decision.

I am the registered owner of a freehold premises in Marske By The Sea but still charged rent, why is this and what is this?

It’s unusual for properties in Marske By The Sea and has limited impact for conveyancing in Marske By The Sea but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.

Despite weeks of looking the Title Certificate and documents to our property can not be found. The conveyancers who did the conveyancing in Marske By The Sea 4 years ago are no longer around. Will I be able to sell the house?

Gone are the days when you need to have the physical original deeds to prove you own the land or property, as the Land Registry hold details of all registered land or property electronically.

I'm buying my first flat in Marske By The Sea benefiting from help to buy. The builders would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not inform my lawyer about this side-deal as it will affect my loan with the lender. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer 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 work for a reputable estate agent office in Marske By The Sea where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Marske By The Sea conveyancing solicitors. Can you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I bought a leasehold flat in Marske By The Sea, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Marske By The Sea with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 yearly. The lease terminates on 21st October 2096

You have 72 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 plus legals.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.