My fiancee and I are acquiring our first property. The has messagedto see if we wish to order supplemental conveyancing searches. We are really unsure what's necessary for conveyancing in Gloucester

The range of Gloucester conveyancing searches should be dictated entirely on the property, the location, the likelihood of any of these risks, your knowledge of the region and risks, your general attitude to risk. What matters is that you adequately appreciate what information each search could supply. Then you can make a decision if you consider that you need that information. If unclear, ask the to guide you.

We see that you have a search directory identifying firms on the conveyancing panel. Do firms pay you a referral fee if I instruct them for our conveyancing in Gloucester?

We are a listing service only for law firms wishing to communicate if they are on the conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Gloucester.

I am buying my first flat in Gloucester with a loan from . The sellers would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not reveal to my conveyancer about this side-deal as it would affect my loan with . Is this normal?.

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 today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Gloucester. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

The majority of houses in Gloucester are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Gloucester in which case you should be shopping around for a Gloucester conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your solicitor should appraise you on the various issues.

I inherited a 1 bedroom flat in Gloucester, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Gloucester with over 90 years remaining are worth £165,000. The ground rent is £45 per annum. The lease ends on 21st October 50

With just 50 years remaining on your lease we estimate the premium for your lease extension to range between £36,100 and £41,800 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.

When it comes to my conveyancing in Gloucester should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee

(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Gloucester conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the 's time in submitting the funds this way.