The Northam conveyancing solicitors that just started acting on my purchase in Northam have suddenly closed. They were on acting for me because I had to have a solicitor on the Nottingham conveyancing panel and my preferred Northam lawyer was not. I gave my credit card details for them to take £195 for searches. What should be my next steps?

Assuming that you have an Estate Agent in the equation then inform them immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Nottingham conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.

I'm buying my first flat in Northam with a loan from Aldermore. The sellers would not reduce the price so I negotiated 6k of additionals instead. The sale representative advised me not inform my solicitor about the side-deal as it could impact my loan with Aldermore. Do I keep my lawyer in the dark?.

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.

Over the last few months I have been searching for a flat up to £195,000 and found one close by in Northam I like with open areas and transport links in the vicinity, however it's only got 49 remaining years left on the lease. I can't really find anything else in Northam suitable, so just wondered if I would be making a mistake acquiring a short lease?

Should you require a mortgage that many years will be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.

I have been pointed in your direction by numerous property agents in Northam to choose a conveyancer using your seach tool. What’s the financial inducement for Estate Agents to recommend your lawyers over a competitor’s?

We refuse to offer any financial incentive for pointing buyers and sellers our way. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.

I am looking at a two apartments in Northam both have about 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Northam. The lease is a right to use the property for a prescribed time frame. As a lease shortens the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena.

I invested in buying a split level flat in Northam, conveyancing was carried out in 2005. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Northam with an extended lease are worth £195,000. The ground rent is £45 levied per year. The lease expires on 21st October 2088

You have 63 years left to run the likely cost is going to span between £16,200 and £18,600 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to 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.