My son is about to exchange on a house that has just been built in Glenfield with a home loan from TSB. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?

The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the TSB conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

My partner and I have arranged the release of further monies on our home loan from Co-operative as we wish to carry out improvements to our home in Glenfield. Do we need to select a nearby Glenfield solicitor on the Co-operative conveyancing panel to deal with the paperwork?

Co-operative don't usually require a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative list.

I am purchasing a property in Glenfield. A rare aspect is that the roof has a solar panel. Barclays have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?

As you are obtaining a mortgage with Barclays your lawyer must check the conveyancing instructions contained in Part two of UK Finance Lenders’ Handbook for Barclays. The CML Handbook contains minimum specifications for solar panel roof-space leases, and solicitors are required to report to Barclays where a lease does not comply with these conditions. The conditions relate to the installation of panels on properties countrywide and is not limited to Glenfield.

Completion of my remortgage has taken place for my property in Glenfield. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?

All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.

What does commercial conveyancing in Glenfield cover?

Non domestic conveyancing in Glenfield covers a broad range of services, supplied by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.

I am attracted to a two apartments in Glenfield both have in the region of forty five years left on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold flat in Glenfield is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of purchasers and banks, leases with less than 75 years become less and less marketable. On a more positive 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 a residence 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 Glenfield conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

I bought a 1 bedroom flat in Glenfield, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Glenfield with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 yearly. The lease expires on 21st October 2095

With 70 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as costs.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.

We have appointed a Glenfield conveyancing solicitor for our house purchase (first time buyers) and have noticed in the terms and conditions that they are not governed by the Financial Conduct Authority. Need I be worried or is that the norm with conveyancer?

We can't see why they should be. Most conveyancer don't lend money. You should check that they are regulated by the Solicitors Regulation Authority, who set stringent obligations covering monies sitting in their bank.