I'm purchasing a new build house in Great Baddow with the aid of help to buy. The developers would not reduce the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not disclose to my conveyancer about this deal as it will impact my loan with the bank. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder 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 encouragement of my in-laws I had a survey completed on a property in Great Baddow ahead of retaining lawyers. I have been told that there is a flying freehold aspect to the house. The surveyor advised that some lenders tend refuse to grant a mortgage on such a premises.

It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. If you call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Great Baddow. Conveyancing will be smoother if you use a solicitor in Great Baddow especially if they are accustomed to such properties in Great Baddow.

My father has suggested that I instruct his lawyers for conveyancing in Great Baddow. Should I choose my own conveyancer?

No doubt the ideal way to find a conveyancing practitioner is to seek referrals from friends or relatives who have actually previously instructed the solicitor that you are are thinking of instructing.

I am a negotiator for a busy estate agent office in Great Baddow where we see a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Great Baddow conveyancing firms. Could you confirm whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-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 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.

An alternative approach is 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 buyer.

I own a ground floor flat in Great Baddow, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable flats in Great Baddow with an extended lease are worth £176,000. The ground rent is £50 invoiced every year. The lease expires on 21st October 2073

With just 50 years unexpired the likely cost is going to span between £31,400 and £36,200 as well as costs.

The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

Is there a reason that Great Baddow conveyancing costs are more expensive for leasehold and freehold properties?

There is always increased work required for leasehold conveyancing. Great Baddow has many leasehold properties. There is more paperwork involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.