My husband and I are planning to purchase a property in Claydon and are in fact using a Claydon conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Birmingham Midshires have this afternoon contacted us to advise us that there is now an issue as our Claydon lawyer is not on their approved list of lawyers. Please explain?

Where you are buying a property with the assistance of a mortgage it is usual for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Claydon lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.

Do I need to pay for insurance to cover chancel repairs when buying a residence in Claydon?

Unless a previous purchase of the property took place after 12 October 2013 you could expect solicitors carrying out conveyancing in Claydon to continue to advocate a chancel search and or insurance against a claim.

I am buying my first flat in Claydon with a loan from Chelsea Building Society. The sellers would not budge the price so I negotiated £7000 of additionals instead. The house builders rep advised me not reveal to my solicitor about this side-deal as it would jeopardize my loan 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 am looking at a couple of apartments in Claydon both have approximately fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this area.

I inherited a ground floor flat in Claydon, conveyancing formalities finalised in 2005. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Claydon with a long lease are worth £181,000. The average or mid-range amount of ground rent is £55 per annum. The lease comes to an end on 21st October 2076

You have 51 years left to run we estimate the price of your lease extension to be between £30,400 and £35,200 plus costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

Is there a reason that Claydon conveyancing fees are higher for leasehold and freehold properties?

There is always increased work necessary for leasehold conveyancing. Claydon has many leasehold properties. There is more hours involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.