Me and my partner are purchasing a 3 bedroom flat in Billesdon with a mortgage. We wish to retain our Billesdon solicitor, but the lender advise he's not on their "panel". It seems we have little option but to use one of the lender panel firms or continue with our Billesdon lawyer and pay for one of their panel lawyers to act for them. This feels very unfair; can we not demand that the mortgage company use our Billesdon solicitor ?

Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Billesdon conveyancing lawyer to apply to be on the conveyancing panel.

Would the conveyancing solicitors indexed on your site conduct right to buy conveyancing in Billesdon?

We do have a variety of conveyancing solicitors who can service right to buy conveyancing work You should contact the solicitors listed to secure a costs illustration.

I am buying my first flat in Billesdon with a loan from Godiva Mortgages Ltd. The sellers would not reduce the price so I negotiated £7000 of fixtures and fittings instead. The property agent told me not disclose to my lawyer about this deal as it would adversely affect my loan with the lender. Should I keep quiet?.

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.

Due to the advice of my in-laws I had a survey completed on a house in Billesdon in advance of instructing conveyancers. I have been advised that there is a flying freehold aspect to the property. My surveyor has said that some mortgage companies will not give a loan on a flying freehold premises.

It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to call us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Billesdon. Conveyancing will be smoother if you use a solicitor in Billesdon especially if they are acquainted with such properties in Billesdon.

I am attracted to a two flats in Billesdon which have in the region of fifty years left on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold flat in Billesdon is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. For most purchasers and banks, leases with under 75 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 property 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 a residence 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 Billesdon 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 purchased a garden flat in Billesdon, conveyancing was carried out May 2009. Can you work out an approximate cost of a lease extension? Comparable flats in Billesdon with over 90 years remaining are worth £207,000. The average or mid-range amount of ground rent is £60 yearly. The lease finishes on 21st October 2083

With only 57 years unexpired we estimate the price of your lease extension to be between £28,500 and £33,000 as well as costs.

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 detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.