My husband and I are approaching an exchange on a house in Kingsdown and my mum and dad have transferred the 10% deposit to my lawyer. I am now informed that as the deposit has been received from someone other than me my solicitor needs to disclose this to my bank. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the bank regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?

Your conveyancer is duty bound to clarify with lender to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.

Is it necessary to pay for insurance to cover chancel repairs when purchasing a property in Kingsdown?

Unless a previous purchase of the property completed post 12 October 2013 you can expect conveyancing practitioners delivering conveyancing in Kingsdown to continue to advocate a chancel search and or chancel repair liability policy.

I used Arc property Solicitors several years past for my conveyancing in Kingsdown. I now require my papers however the law firm has closed. What do I do?

Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Kingsdown of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.

Due to the advice of my in-laws I had a survey completed on a property in Kingsdown prior to retaining solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some mortgage companies tend refuse to give a loan on this type of home.

It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you e-mail us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Kingsdown. Conveyancing will be smoother if you use a solicitor in Kingsdown especially if they are acquainted with such properties in Kingsdown.

I am attracted to a couple of maisonettes in Kingsdown both have in the region of fifty years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Kingsdown is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of buyers and mortgage companies, leases with under eighty years become less and less attractive. 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 premises 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 Kingsdown 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new 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.

Kingsdown Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying

Are any of leasehold owners in dispute over their service charge liability? What is the annual service fee and ground rent? The best form of lease arrangement is a share of the freehold. In this arrangement the lessees enjoy being in charge if their destiny and although a managing agent is frequently retained where it is larger than a house conversion, the managing agent acts for the leaseholders themselves.