3 months have elapsed since my purchase conveyancing in Cramlington concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 asset 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.

Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Cramlington is where the house is located. Is there any guidance you can impart?

Flying freeholds in Cramlington are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cramlington you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cramlington may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

My cousin has suggested that I instruct his conveyancing solicitors in Cramlington. Should I choose my own property lawyer?

No doubt it’s preferable to choose a conveyancing lawyer is to seek referrals from friends or family who have used the firm that you are contemplating using.

I am looking at a two maisonettes in Cramlington both have about 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 a lease gets shorter the value of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area.

I am the registered owner of a 1 bedroom flat in Cramlington, conveyancing having been completed in 1995. How much will my lease extension cost? Similar properties in Cramlington with an extended lease are worth £222,000. The ground rent is £50 per annum. The lease terminates on 21st October 2095

With 71 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 plus legals.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

Builders have recommended to me a solicitor and I've received an estimate from them. They are nearly £300 cheaper than my own Cramlington solicitor. Should I use them?

Housebuilders normally have panels of lawyers who expedite matters and who know the seller’s documentation and conveyancing practitioner. Plenty of developers offer an inducement to select their approved conveyancer for this reason, any increased cost can be avoided and a developer will not recommend a conveyancing factory and run the risk of having the transaction delayed when they want exchange within a tight time frame. A counter-argument for not agreeing to use the suggested solicitor is that they may prove hesitant to fight for your interests for fear of upsetting the housebuilder. If you worry that this may be the case you should stick with your local Cramlington property lawyer.