Do the Building Society Association intend to launch a online directory to to identify practices on the Loughborough BS conveyancing panel for instance in Cilcain?

We would not expect to be advised of any plans on the part of the BSA to develop such a register.

I'm purchasing a new build house in Cilcain with a mortgage from Barnsley Building Society. The sellers refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not inform my lawyer about this deal as it could adversely affect my mortgage with the bank. 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 have been on the look out for a leasehold apartment up to £245,000 and identified one close by in Cilcain I like with amenity areas and railway links nearby, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Cilcain in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?

Should you need a mortgage the remaining unexpired lease term will be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.

We're novice buyers - agreed a price, but the selling agent told us that the owners will only issue a contract if we use their recommended conveyancers as they need an ‘expedited deal’. We would rather use a high street conveyancer with experience of conveyancing in Cilcain

We suspect that the owner is not behind this ultimatum. If they want ‘a quick sale', taking such a hostile approach to a genuine purchaser is likely to cause more damage than good. Bypass the agents and go straight to the owners and make the point that (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you are going to instruct your preferred Cilcain conveyancing firm - as opposed tothe ones that will earn the estate agent a introducer fee or achieve conveyancing targets set by corporate headquarters.

I work for a long established estate agent office in Cilcain where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Cilcain conveyancing firms. Can you confirm whether the seller of a flat can initiate the lease extension process for the buyer?

Provided that the seller has owned the lease 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 buyer 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 at the same time as completion of the sale.

Alternatively, it may be possible 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 own a 1st floor flat in Cilcain, conveyancing formalities finalised in 2006. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Cilcain with over 90 years remaining are worth £171,000. The ground rent is £50 invoiced annually. The lease terminates on 21st October 2103

With only 79 years left to run we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.