Our North Somerset conveyancer has identified a difference when comparing the assumptions in the home valuation report and what is in the title deeds. My solicitor informs me that he must check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s course or action correct?

Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.

Are there restrictive covenants that are commonly identified during conveyancing in North Somerset?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in North Somerset. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

I'm purchasing my first flat in North Somerset with a loan from Birmingham Midshires. The sellers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not disclose to my conveyancer about the side-deal as it would impact my loan with the lender. Is this normal?.

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.

I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a simple, no chain conveyancing. North Somerset is where the house is located. Can you offer any opinion?

Flying freeholds in North Somerset are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside North Somerset you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in North Somerset 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 property.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £450,000 flat in North Somerset next week. The landlords agents has quoted £348 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in North Somerset?

North Somerset conveyancing on leasehold apartments usually requires the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be willing to do so. They are at liberty to invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some transactions it is above £800. The administration charge levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that you have no option but to pay whatever is demanded if you want to sell the property.

I own a 1st floor flat in North Somerset, conveyancing was carried out December 2006. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in North Somerset with over 90 years remaining are worth £186,000. The ground rent is £55 yearly. The lease comes to an end on 21st October 2075

With just 52 years left to run we estimate the premium for your lease extension to span between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns 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 based on this information without first seeking the advice of a professional.