Our lawyer has identified a a legal deficiency with the lease for the property we are buying in Byfleet. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our says that he must be satisfied that the lender is content with this solution. Who is the client here, us or the lender?

Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the mortgage company are the client. The appropriate lender specifications have to be complied with.

I am purchasing a new build house in Byfleet with the aid of help to buy. The sellers refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not inform my solicitor about the side-deal as it would affect my loan with the lender. Do I keep my lawyer in the dark?.

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 decided to have a survey done on a property in Byfleet prior to instructing lawyers. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some banks may refuse to grant a mortgage on a flying freehold property.

It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Byfleet. Conveyancing may be slightly more expensive based on your lender's requirements.

I am 17 days into a leasehold purchase having been recommend to solicitors by the high street agent to perform conveyancing in Byfleet. I am am extremely disappointed with the level of service. Can you you assist me in finding new lawyers?

A conveyancer would need to be really poor to suggest replacing them. Has your loan offer been generated? In the event that it has you will need to inform them of the new contact details and get the offer are re-sent. Your new solicitor ideally should be on the lenders panel to avoid supplemental expenses and frustration. So that should be your starting point. Our search tool can help you find a bank approved lawyer for your conveyancing in Byfleet

I am tempted by the attractive purchase price for a couple of apartments in Byfleet both have in the region of forty five years remaining on the lease term. should I be concerned?

There are no two ways about it. A leasehold flat in Byfleet is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the value of the premises. For most buyers and banks, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Byfleet conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Byfleet Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing

Who are the managing agents? What is the the remaining lease term? How much is the ground rent and service charge?