My wife and I are only a couple days away from an exchange on a property in Braunton and my mum and dad have sent the ten percent deposit to my property lawyer. I am now advised that as the deposit has not come from me my conveyancer needs to disclose this to my lender. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?

Your property lawyer is obliged to check with the bank to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.

Can you explain why leasehold purchase conveyancing in Braunton is more expensive?

In short, leasehold conveyancing in Braunton and Devon usually requires additional due diligence compared to freehold transactions. This includes reviewing the lease, corresponding with the landlord concerning serving required notices, obtaining up-to-date service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.

I am thinking of refinancing my property in Braunton, does my lawyer need to be on the Clydesdale Solicitor panel?

In theory, you could use a solicitor that is not on the Clydesdale conveyancing panel, but Clydesdale would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.

I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a simple, chain free conveyancing. Braunton is the location of the property. Is there any guidance you can give?

Flying freeholds in Braunton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Braunton you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Braunton may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

What are your top tips when it comes to choosing a Braunton conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Braunton conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Braunton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:

Can they put you in touch with clients in Braunton who can give a testimonial? What are the legal fees for lease extension conveyancing?

I am the registered owner of a garden flat in Braunton, conveyancing formalities finalised in 2000. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Braunton with an extended lease are worth £181,000. The ground rent is £55 invoiced every year. The lease terminates on 21st October 2074

With 50 years unexpired we estimate the price of your lease extension to span between £31,400 and £36,200 as well as legals.

The suggested premium range above 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 additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.