Me and my partner are about to complete on the purchase of a property in Castle Donington but as a result of wreckage from some water damage at the property I have was able negotiate compensation from the vendor of £3k taking the form of a reduction in the price. I had intended this to be dealt with as part of the conveyancing process however Coventry BS will not agree to this. Why were they notified?

The lawyer being on the Coventry BS conveyancing panel is obliged to inform Coventry BS of any variations to the sale price. If you were to refuse your lawyer to notify the price change to Coventry BS then they would have to discontinue acting for you. In addition, Coventry BS and you would have to appoint a new conveyancing practitioner for your conveyancing in Castle Donington.

I'm purchasing a new build house in Castle Donington with the aid of help to buy. The developers would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent advised me not to tell my lawyer about the side-deal as it could affect my mortgage with the lender. Should I keep quiet?.

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 was advised by numerous selling agents in Castle Donington to choose a property lawyer using your seach tool. Is there a financial incentive for Estate Agents to promote your site over and above alternative conveyancing organisations?

We refuse to give any referral fee for sending work in our direction. We found it would be just too difficult to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.

I am employed by a busy estate agency in Castle Donington where we see a number of leasehold sales derailed due to short leases. I have been given conflicting advice from local Castle Donington conveyancing solicitors. Could you confirm whether the seller of a flat can instigate the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I invested in buying a leasehold flat in Castle Donington, conveyancing was carried out June 2006. How much will my lease extension cost? Comparable properties in Castle Donington with a long lease are worth £216,000. The ground rent is £50 yearly. The lease runs out on 21st October 2095

With only 69 years left to run the likely cost is going to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above 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 this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

Why is New Build conveyancing in Castle Donington more expensive?

Conveyancing in Castle Donington for recently converted or new build homes can sometimes involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as further questions and contractual concerns.