My wife and I are buying a newly built duplex in Kimbolton and my conveyancer is advising me that she is duty bound to the bank to disclose incentives from the builder. I am under pressure to exchange contracts and my preference is not to prolong deal. is my lawyer playing by the book?

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

Will my solicitor be raising questions about flooding as part of the conveyancing in Kimbolton.

The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Kimbolton. Plenty of people will buy a house in Kimbolton, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.

Conveyancers are not qualified to impart advice on flood risk, but there are a number of searches that can be undertaken by the purchaser or on a buyer’s behalf which will give them a better understanding of the risks in Kimbolton. The conventional set of information sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the owner to discover if the property has suffered from flooding. In the event that the property has been flooded in past and is not notified by the owner, then a buyer may bring a legal claim for losses resulting from an misleading reply. The buyer’s lawyers will also conduct an enviro report. This should indicate if there is a recorded flood risk. If so, additional inquiries should be initiated.

I'm purchasing my first flat in Kimbolton with a mortgage from Accord Mortgages Ltd. The developers refused to reduce the price so I negotiated £7000 of extras instead. The property agent suggested that I not reveal to my conveyancer about the side-deal as it will impact my loan with Accord Mortgages Ltd. 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.

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My wife and I purchased a leasehold flat in Kimbolton. Conveyancing and HSBC Bank mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Kimbolton who previously acted has now retired. Any advice?

First contact the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to instruct a Kimbolton conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I bought a ground floor flat in Kimbolton, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Kimbolton with a long lease are worth £197,000. The ground rent is £55 per annum. The lease comes to an end on 21st October 2080

You have 55 years unexpired we estimate the premium for your lease extension to range between £31,400 and £36,200 plus legals.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.