five months have gone by following my purchase conveyancing in Newton Ferrers concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 premises 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.

Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a straight forward, no chain conveyancing. Newton Ferrers is where the house is located. Can you shed any light on this issue?

Flying freeholds in Newton Ferrers are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Newton Ferrers you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Newton Ferrers may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

I am one month into a residential purchase having been referred to solicitors by the high street agent to perform conveyancing in Newton Ferrers. I am am extremely frustrated with the level of service. Can you you assist me in finding new solicitors?

A solicitor would need to be very poor to suggest diss instructing them. Has your mortgage offer been sent? If so you will need to advise them of the new contact details and have the mortgage documents are re-sent. Your solicitor ideally needs to be on the mortgage company approved list to avoid supplemental charges and delays. That should be your first question of the new solicitors. The search tool should assist you in finding a bank approved lawyer for your home move in Newton Ferrers

In relation to leasehold conveyancing in Newton Ferrers what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Newton Ferrers. Most leases are drafted differently and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

Service charge per centages that don't add up correctly leaving a shortfall A provision to repair to or maintain elements of the building

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Chelsea Building Society, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.

I inherited a 1 bedroom flat in Newton Ferrers, conveyancing formalities finalised March 2009. Can you work out an approximate cost of a lease extension? Comparable properties in Newton Ferrers with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease expires on 21st October 2085

With 60 years remaining on your lease we estimate the price of your lease extension to span between £20,000 and £23,000 plus professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

Builders have suggested I use a conveyancer and I've received a quote from them. They are almost £400 cheaper than my local Newton Ferrers property lawyer. Should I use them?

Developers frequently have panels of property lawyers who expedite matters and who know the developer’s documentation and conveyancing practitioner. As many developers offer an inducement to use a preferred property lawyer for this reason, any increased fees can be avoided and a builder will not suggest a conveyancing factory and run the risk of having the transaction delayed when they demand an exchange within a tight time frame. The argument for not agreeing to use the suggested conveyancing practitioner is that they may be reluctant to fight for your interests for fear of alienating the sellers. Where you have concerns that this may be the case you should keep with your local Newton Ferrers property lawyer.