My wife and I are soon to exchange on the purchase of a house in Bamburgh but as a result of damage from the recent storms I have was able negotiate recompense from the current proprietors of £2k in the form of a reduction in the price. I had intended this to be addressed as part of a side agreement but Leeds Building Society are not allowing this. Why were they approached?

Any solicitor being on the Leeds Building Society conveyancing panel is required to inform Leeds Building Society of any amendments to the purchase price. If you prohibit your conveyancing practitioner to report the reduction to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new conveyancing practitioner for your conveyancing in Bamburgh.

I purchased a freehold residence in Bamburgh but nevertheless pay rent, why is this and what is this?

It is rare for properties in Bamburgh and has limited impact for conveyancing in Bamburgh but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.

We are expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Is the implication that I have to use their panel solicitor as I would much rather appoint a specialised conveyancing solicitor in Bamburgh?

You should check but the chances are that appoint one of their panel solicitors should you accept the "fee-free" offer. Contact the lender to check if they allow a monetary alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Bamburgh.

I'm the only recipient of my late grandmother’s estate with all property in now in my sole name, including the house in Bamburgh. The Bamburgh property was put into my name in December. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship will be regarded the same way as if I'd bought the house in December. Is the property unsalable for six months?

The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How practical a view mortgage companies take of it, depend on the bank as this clause is primarily there to pick up on the purchase and immediately sell or the quick reselling of property.

is it true that all Bamburgh solicitors on the Kent Reliance conveyancing panel are overseen by the SRA?

As a firm of solicitors, in order to be on the Kent Reliance approved list of solicitors they would need to be governed by the SRA. Many banks do permit licenced conveyancers on their panel and in such a situation the organisation would be overseen by the Council of Licensed Conveyancers.

About to purchase house in Bamburgh. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Bamburgh lawyer is on the Nationwide conveyancing panel.

I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Bamburgh. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Bamburgh ?

The majority of houses in Bamburgh are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Bamburgh in which case you should be looking for a Bamburgh conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your conveyancer will appraise you on the various issues.

I am the registered owner of a studio flat in Bamburgh, conveyancing having been completed in 1996. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Bamburgh with over 90 years remaining are worth £222,000. The ground rent is £50 invoiced every year. The lease ends on 21st October 2097

With just 71 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 plus 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 without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.