I am considering applying for a Leeds Building Society mortgage for purchase of a new build (under development) in Bozeat with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Leeds Building Society ?

There is nothing to stop you using your solicitor, but Leeds Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.

It has been 3 months since my purchase conveyancing in Bozeat completed. 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 premises 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.

I am purchasing my first flat in Bozeat benefiting from help to buy. The builders would not move on the price so I negotiated 6k of extras instead. The sale representative told me not inform my solicitor about this side-deal as it will adversely affect my mortgage with the lender. 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.

I have been pointed in your direction by a few estate agents in Bozeat to get a quote from a property lawyer on your site. Is there a financial incentive for Estate Agents to market your lawyers rather than a competitor’s?

We don’t make any referral fee for sending work to this site. We thought it would be too underhand a fee as home movers will think, ‘How come 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 looking at a two maisonettes in Bozeat both have in the region of 50 years unexpired on the leases. Will this present a problem?

There are plenty of short leases in Bozeat. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease decreases and it becomes more costly to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena.

Leasehold Conveyancing in Bozeat - A selection of Queries Prior to Purchasing

On the whole the outlay for major works tend not to be wrapped into the service charges, albeit that there some managing agents in Bozeat ask leasehold owners to contribute towards a reserve fund created for the specific purpose of building a fund for major works. How much is the ground rent and service charge? Make sure you find out if there are any onerous prohibitions in the lease. For example some leases prohibit pets being allowed in in a block in Bozeat. If you love the propertyin Bozeat yet your dog can’t live with you then you have a very difficult compromise.