three months have elapsed following my purchase conveyancing in Billesdon concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. 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 property 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.

How does conveyancing in Billesdon differ for new build properties?

Most buyers of new build residence in Billesdon approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is finished. This is because developers in Billesdon tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Billesdon or who has acted in the same development.

I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Billesdon is where the house is located. Can you offer any opinion?

Flying freeholds in Billesdon are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Billesdon you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Billesdon may ascertain 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.

Is it simple use the search tool to get a costs illustration from a conveyancing solicitor in Billesdon on the approved list for my mortgage?

Step one is to pick a mortgage company such as Lloyds TSB Bank, The Mortgage Works or Clydesdale then choose your preferred area e.g. Billesdon. Conveyancing practices in Billesdon and across England and Wales should be identified.

Last September I purchased a leasehold house in Billesdon. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I inherited a 1st floor flat in Billesdon, conveyancing formalities finalised in 2004. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Billesdon with over 90 years remaining are worth £191,000. The ground rent is £55 yearly. The lease ends on 21st October 2079

With only 53 years unexpired we estimate the premium for your lease extension to be between £27,600 and £31,800 plus professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.