I am purchasing a newly constructed duplex in Corby and my solicitor is informing me that she is duty bound to the bank to reveal incentives from the developer. The Estate Agents are hassling me to exchange contracts and my preference is not to prolong deal. Is my lawyer right?

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

My wife and I purchased a renovated Georgian house in Corby. Conveyancing practitioner represented me and Bank of Ireland. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the exact same address. Is it worth asking Bank of Ireland to clarify?

You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Corby and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with your conveyancing practitioner who conducted the work.

I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Corby is the location of the property. Is there any advice you can impart?

Flying freeholds in Corby are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Corby you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Corby may determine 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 need to find a conveyancing solicitor for freehold conveyancing in Corby. I have stumble across a site which seems to have the perfect offering If it is possible to get all formalities completed via email that would be preferable. Should I be wary? What should out be looking out for?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

Expecting to exchange soon on a leasehold property in Corby. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Corby should include some of the following:

Changes to the property specifics of the parties to the lease, e.g. these could be the lessee, head lessor, freeholder The length of the lease term. You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark It needs to be made clear to you if the lease allows you to add or upgrade anything in the property- you must be made aware as to whether it relates to all alterations or just structural alteration, and whether permission is mandated necessary Whether your lease provides for a sinking fund for major works?

I invested in buying a 1 bedroom flat in Corby, conveyancing having been completed May 2000. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Corby with an extended lease are worth £227,000. The average or mid-range amount of ground rent is £50 per annum. The lease comes to an end on 21st October 2098

With just 72 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues 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 based on this information without first getting professional advice.