I have just been advised by my financial adviser that my Clayton property lawyer is not on the lender Conveyancing panel. What can I do to check?

The first thing you need to do is to contact your Clayton conveyancer. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they may be able to suggest a Clayton conveyancing firm that is on the conveyancing panel for your bank.

I have been told by my conveyancer that restrictive coveneant insurance is necessary on my purchase. What is the level of cover for Clayton conveyancing?

The right level of restrictive coveneant indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and Leeds Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.

is it true that all Clayton solicitor practices on the Co-operative conveyancing panel are governed by the Solicitors Regulatory Authority?

As a firm of solicitors, in order to be on the Co-operative conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Many mortgage companies do list licenced conveyancers on their panel in which case such firms would be governed by the Council of Licensed Conveyancers.

We have a mortgage agreed in principle with Nationwide. Clayton conveyancing solicitors are appointed. How long does it take for Nationwide to send the offer to the conveyancer?

Some lenders take longer than others. Have Nationwide completed the valuation? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.

I am buying a property and the lawyer has mentioned Chancel Repair to which the property may be obligated to contribute to given it’s proximity to the area of such a church. He has suggested insurance. Is this strictly warranted for conveyancing in Clayton

Unless a previous acquisition of the house completed after 12 October 2013 you may expect lawyers delivering conveyancing in Clayton to continue to recommend a chancel search and or insurance against a claim.

I'm buying a new build house in Clayton with the aid of help to buy. The builders would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not reveal to my solicitor about this deal as it would put at risk my mortgage with the lender. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder 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 am tempted by the attractive purchase price for a couple of apartments in Clayton both have in the region of forty five years remaining on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Clayton is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. For most buyers and lenders, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Clayton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I invested in buying a basement flat in Clayton, conveyancing having been completed half a dozen years ago. 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? Comparable properties in Clayton with a long lease are worth £222,000. The ground rent is £50 charged once a year. The lease finishes on 21st October 2094

You have 70 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 plus legals.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. 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 placing reliance on this information before seeking the advice of a professional.