I have been told that property searches are a common reason for hinderance in Yardley conveyancing transactions. Is that correct?

The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Yardley.

I'm purchasing a new build house in Yardley with a mortgage from Accord Mortgages Ltd. The sellers would not move on the amount so I negotiated 6k of additionals instead. The estate agent told me not disclose to my solicitor about this side-deal as it will adversely affect my mortgage with the lender. Should I keep quiet?.

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.

Due to the encouragement of my in-laws I had a survey completed on a property in Yardley prior to instructing lawyers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies tend not issue a loan on this type of house.

It depends who your proposed lender is. HSBC has different instructions for example to Halifax. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Yardley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Yardley to see if the conveyancing costs will increase in light of this.

I only have Sixty One years remaining on my lease in Yardley. I am keen to get lease extension but my freeholder is missing. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you have done all that could be expected to locate the lessor. In some cases an enquiry agent would be helpful to conduct investigations and prepare a report to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the vesting order request to the County Court covering Yardley.

I invested in buying a 2 bed flat in Yardley, conveyancing having been completed 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Yardley with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease comes to an end on 21st October 2078

You have 53 years left to run we estimate the premium for your lease extension to be between £27,600 and £31,800 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.

I am in the process of purchasing my first house in Yardley. Conveyancing practitioner already selected. The financial consultant pointed out that a survey is not necessary as the property is just 20 yrs old.

At the very least you should have a Home Buyer's Report. Given the premises was constructed over a decade ago the property will not come with a warranty, so you don't want to take a risk. Where a property of this age shows no signs of problems a Home Buyer's report may suffice. They will highlight any apparent issues and recommend further investigation where appropriate. If there are any indications of material issues seek a full Building Survey from the beginning.