Can you help? My Mancot solicitor is informing me me that he is legally obliged toapply for Mancot conveyancing searches due to the fact thatthe firm are on the Virgin Moneysolicitor panel. Is this really necessary?

Unfortunately both you and your lawyer have little choice here. As you are obtaining a mortgage with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Mancot conveyancing searches.

Various online forums that I have come across warn that are the number one cause of stalling in Mancot conveyancing transactions. Is there any truth in this?

The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Mancot.

I'm purchasing my first flat in Mancot with a mortgage from Santander. The builders refused to reduce the price so I negotiated £7000 of extras instead. The sale representative suggested that I not reveal to my conveyancer about this side-deal as it will jeopardize my mortgage with Santander. 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.

Should I appoint a Mancot conveyancing practitioner in close proximity to the house I am hoping to buy? An old friend can conduct the conveyancing but her office is a couple of hundredkilometers away.

The benefit of a local Mancot conveyancing practice is that you can drop in to sign paperwork, present your ID and pester them where appropriate. They will also have local knowledge which is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and the majority were content that must outweigh using an unfamiliar Mancot conveyancing solicitor just because they are based in the area.

I work for a busy estate agent office in Mancot where we have witnessed a few leasehold sales derailed as a result of short leases. I have received conflicting advice from local Mancot conveyancing solicitors. Could you clarify whether the owner of a flat can commence the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. 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 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 purchaser.

I acquired a 1 bedroom flat in Mancot, conveyancing having been completed March 1999. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Mancot with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £50 yearly. The lease expires on 21st October 2093

With just 68 years unexpired the likely cost is going to span between £9,500 and £11,000 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.