2 months have gone by since my purchase conveyancing in Cottesmore completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I'm buying a new build house in Cottesmore with a loan from TSB. The sellers refused to budge the price so I negotiated £7000 of additionals instead. The sale representative suggested that I not inform my conveyancer about the extras as it would put at risk 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 Cottesmore ahead of instructing lawyers. I have been informed that there is a flying freehold overhang to the house. My surveyor advised that some banks tend not grant a loan on a flying freehold premises.

It varies from the lender to lender. HSBC has different requirements from Nationwide. If you contact us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Cottesmore. Conveyancing will be smoother if you use a solicitor in Cottesmore especially if they are acquainted with such properties in Cottesmore.

My husband and I are novice buyers - agreed a price, yet the property agent has warned us that the vendor will only move forward if we instruct the agent's preferred conveyancers as they need an ‘expedited deal’. My instinct tells me that we should use a high street solicitor accustomed to conveyancing in Cottesmore

It is unlikely the vendors are driving this. If they want ‘a quick sale', turning down a serious purchaser is not the way to achieve this. Bypass the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you intend to instruct your preferred Cottesmore conveyancing solicitors - as opposed tothe ones that will provide the estate agent a referral fee or achieve conveyancing figures pre-set by corporate headquarters.

I work for a long established estate agent office in Cottesmore where we have experienced a number of flat sales jeopardised due to short leases. I have received conflicting advice from local Cottesmore conveyancing solicitors. Can you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that 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 buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.

Cottesmore Leasehold Conveyancing - Sample of Queries Prior to Purchasing

How many of the leaseholders are in arrears for their service charge payments? Is anyone aware of any major works anticipated that will increase the service costs? Its a good idea to discover as much as possible concerning the company managing the block as they can either make your life much easier or problematic. As the proprietor of a leasehold property you will be in the clutches of the managing agents from a financial perspective and when it comes to day to day issues like the tidiness of the common parts. Enquire of other tenants if they are happy with their management. Finally, find out the dates that you are obliged pay the service charge to the relevant party and specifically how they are spending that money.