We are expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would prefer to instruct a high street conveyancing solicitor in Binstead?

Do check but the chances are that allocate you one of their panel solicitors if you want the "fee-free" offer. Call the lender and explore if they make available a cash alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor near Binstead.

i am purchasing my first flat in Binstead benefiting from help to buy. The builders would not budge the amount so I negotiated £7000 of additionals instead. The property agent advised me not inform my conveyancer about the side-deal as it may adversely affect my mortgage with . 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 have been on the look out for a leasehold apartment up to £235,500 and identified one close by in Binstead I like with amenity areas and transport links in the vicinity, the downside is that it only has 49 remaining years left on the lease. I can't really find anything else in Binstead in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?

Should you require a mortgage the shortness of the lease will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.