My wife and I are purchasing a new build flat in Wednesfield and my lawyer is informing me that she has to the bank to reveal incentives from the seller. I am nearing the developer’s deadline to sign contracts and I would rather not delay deal. is my lawyer playing by the book?

You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.

I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Wednesfield. My lender is Bank of Ireland

Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 30/1/2025, the requirements read as follows :

Do I need to be concerned by estate agents that I am dealing with are suggesting a factory type conveyancing firm as opposed to a High Street Wednesfield conveyancing practice?

As is the case with lots of service providers, often recommendations from connections can be extremely useful or valuable. Nevertheless there are numerous people with a vested interest in a conveyancing matter; estate agents, financial adviser and banks may suggest solicitors to instruct. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there may be a commercial relationship behind the endorsement. You are free to choose your own lawyer. You need to be aware that most banks have an approved list of conveyancers you are obliged to use for the lender related work in your transaction.

We're novice buyers - agreed a price, but the agent informed us that the owners will only go ahead if we appoint the agent's preferred lawyers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a local solicitor accustomed to conveyancing in Wednesfield

It is improbable the vendors are behind this. Should the vendor desire ‘a quick sale', alienating a motivated purchaser is likely to cause more damage than good. Speak to the owners direct and explain that (a)you are keen to buy (b)you are ready to go, with finances arranged © you do not need to sell (d) you intend to proceed fast (e)however you will continue to use your preferred Wednesfield conveyancing lawyers - as opposed tothe ones that will provide the estate agent a kickback or meet his conveyancing targets pre-set by head office.

I've recently bought a leasehold property in Wednesfield. Am I liable to pay service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I acquired a split level flat in Wednesfield, conveyancing formalities finalised 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Wednesfield with over 90 years remaining are worth £185,000. The ground rent is £65 levied per year. The lease runs out on 21st October 2085

With just 60 years unexpired the likely cost is going to range between £20,000 and £23,000 as well as legals.

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 due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.