My husband and I are acquiring a newly built flat in Aylsham and my solicitor is telling me that she has to the lender to reveal incentives from the developer. I am nearing the developer’s deadline to exchange and I have no desire to delay the conveyancing. is my lawyer playing by the book?

You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.

In looking at moneysavingexpert.com for a high-quality solicitor in Aylsham, many comment that I should instruct a CQS accredited lawyer. Can you explain what CQS is?

The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in buying or selling property, trusted by some of the UK's major banks. Four years ago the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). CQS is not a scheme offered by the Society for Licensed Conveyancers. Aylsham is one of the numerous areas in England and Wales where there are Accredited solicitors.

I am buying my first flat in Aylsham with a loan from Halifax. The sellers would not move on the price so I negotiated 6k of extras instead. The property agent suggested that I not disclose to my conveyancer about the extras as it may jeopardize my mortgage with the lender. Do I keep my lawyer in the dark?.

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've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Aylsham is where the house is located. What do you suggest?

Flying freeholds in Aylsham are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Aylsham you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Aylsham 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 residence.

I am tempted by the attractive purchase price for a two maisonettes in Aylsham both have about forty five years left on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Aylsham is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most purchasers and mortgage companies, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Aylsham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I inherited a basement flat in Aylsham, conveyancing having been completed 4 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Aylsham with over 90 years remaining are worth £176,000. The average or mid-range amount of ground rent is £50 levied per year. The lease runs out on 21st October 2105

You have 80 years unexpired the likely cost is going to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.