The Shanklin conveyancing firm handling our Shanklin conveyancing has discovered a discrepancy when comparing the surveyor’s assumptions in the home valuation survey and what is in the legal papers for the property. My lawyer has advised that he is obliged to check that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s stance right?

Your solicitor must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.

Despite weeks of looking the Title Certificate and documents to my home are lost. The lawyers who dealt with the conveyancing in Shanklin 10 years ago have long since closed. What are my next steps?

As long as the title is registered the information relating to your proprietorship will be retained by the Land Registry under a Title Number. It is possible to perform a search at the Land Registry, find your property and secure up to date copies of the property title for a small fee. If the property is Leasehold then the Land Registry will also normally hold a file duplicate of the Registered Lease and again, a copy can be ordered for a small fee.

I'm buying my first flat in Shanklin benefiting from help to buy. The developers refused to budge the amount so I negotiated 6k of extras instead. The sale representative suggested that I not disclose to my lawyer about the extras as it will put at risk my loan with the bank. Is this normal?.

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 am looking for a ground for flat up to £235,500 and found one close by in Shanklin I like with open areas and station in the vicinity, the downside is that it's only got 51 years on the lease. There is not much else in Shanklin in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?

If you require a mortgage the shortness of the lease will likely be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £150,000 flat in Shanklin next Thursday. The management company has quoted £300 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Shanklin?

Shanklin conveyancing on leasehold apartments normally results in administration charges raised by landlords agents :

Addressing conveyancing due diligence questions Where consent is required before sale in Shanklin Supplying insurance information Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Shanklin leasehold premises is £350. For Shanklin conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

I acquired a studio flat in Shanklin, conveyancing was carried out November 2008. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Shanklin with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease ends on 21st October 2100

With just 75 years left to run we estimate the price of your lease extension to range between £8,600 and £9,800 as well as legals.

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 in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.