We are about to sign contracts for a leasehold flat in Shotley Bridge. We encountered a problem. The loan offer with Skipton Building Society runs out on 16/12/2025 but the vendors are insisting on a completion date of 18/12/2025. Is it possible to extend the loan expiry date?

The person best placed to deal with your concern is your conveyancer who will hopefully calculate whether they corresponding with the lender, seller’s conveyancers, property agents or possibly all three based on what has happend in your house move as of today.

Do the Building Society Association intend to launch a search tool with a view to to identify law firms on the Melton Mowbray Building Society conveyancing panel for instance in Shotley Bridge?

Lexsure has not been advised of any intention on the part of the BSA to promote such a search facility.

I am purchasing a new build house in Shotley Bridge with a loan from Virgin Money. The sellers would not move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep suggested that I not reveal to my lawyer about the deal as it may impact my mortgage with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder 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 am tempted by the attractive purchase price for a couple of apartments in Shotley Bridge both have about 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field.

I purchased a ground floor flat in Shotley Bridge, conveyancing was carried out February 1998. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Shotley Bridge with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 levied per year. The lease terminates on 21st October 2097

With only 72 years left to run we estimate the premium for your lease extension to be between £9,500 and £11,000 plus professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you 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.

What do I do if I am not happy with the property lawyer who handled my conveyancing in Shotley Bridge?

Occasionally the level of service you receive is not as you expect, and unfortunately every so often matters do not go as planned. That being said there is recourse where you were unhappy with your conveyancing in Shotley Bridge. This varies from trying to resolve matters directly with them, through to reporting a property lawyer to their regulator. If you remain aggrieved you may consider getting in touch with the Legal Ombudsman.