My wife and I are due to exchange on the purchase of a house in New Invention but as a result of wreckage from the recent storms I have was able negotiate reparation from the vendor in the sum of three thousand pounds in the form of a deduction in the price. This was going to be addressed as part of a side agreement yet Yorkshire BS are not allowing this. Should they have been notified?

Your property lawyer being on the Yorkshire BS conveyancing panel is obliged to advise Yorkshire BS of any changes to the purchase price. If you prohibit your property lawyer to notify the reduction to Yorkshire BS then they would have to discontinue acting for you. In addition, Yorkshire BS and you would have to appoint a new solicitor for your conveyancing in New Invention.

Do the Building Society Association intend to launch a online directory to to identify law firms on the Loughborough BS conveyancing panel for instance in New Invention?

We are not aware of any plans on the part of the BSA to promote such a register.

I have todaybecome aware that Stirling Law have closed. They carried out my conveyancing in New Invention for a purchase of a leasehold flat 18 months ago. How can I check that the property is not still registered in the name of the previous owner?

The quickest method to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of New Invention conveyancing specialists.

Can you provide any advice for leasehold conveyancing in New Invention with the aim of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in New Invention can be avoided where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? New Invention leases often stipulate that internal structural changes or installing wooden flooring require a licence issued by the Landlord consenting to such alterations. Should you fail to have the approvals in place you should not communicate with the landlord without contacting your lawyer before hand. Some New Invention leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers. If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.

I invested in buying a 1 bedroom flat in New Invention, conveyancing having been completed in 2004. How much will my lease extension cost? Comparable properties in New Invention with a long lease are worth £206,000. The ground rent is £45 per annum. The lease ceases on 21st October 2089

With only 66 years remaining on your lease we estimate the premium for your lease extension to span between £12,400 and £14,200 plus costs.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.

Is there a distinction between surveying and conveyancing in New Invention?

Conveyancing - in New Invention or anywhere in England and Wales - is the legal term given to transferring legal title of property from one person to another. It therefore includes the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you discover the condition of the building and, if there are problems, give you a powerful reason for negotiating the purchase price down or asking the vendor to remedy the defects prior to you move in.