We are nearing an exchange on a house in Longridge and my mum and dad have transferred the 10% deposit to my solicitor. I am now told that as the deposit has not arrived from me my property lawyer needs to make a notification to my bank. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?

Your solicitor is obliged to clarify with the bank to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.

My relative advised me that where I am purchasing in Longridge I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

A search of this type is sometimes quoted for as part of the standard Longridge conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Longridge around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Longridge Education with maps and statistics, Local Amenities and other useful information regarding Longridge.

The estate agent has sent us the confirmation of our purchase of a new build apartment in Longridge. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Longridge

Please confirm the Lease plans are architect prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan.

Are there frequently found problems that you witness in leases for Longridge properties?

There is nothing unique about leasehold conveyancing in Longridge. All leases are individual and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

Repairing obligations to or maintain parts of the premises A provision for the recovery of money spent for the benefit of another party.

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, The Mortgage Works, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

I own a ground floor flat in Longridge, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Longridge with an extended lease are worth £190,000. The ground rent is £65 invoiced annually. The lease expires on 21st October 2086

With 61 years left to run the likely cost is going to span between £18,100 and £20,800 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.

I have miscalculated my finances and am a few grand short a 10% deposit on my apartment purchase in Longridge , but I am anxious proceed. What can I do?

You can agree a lesser deposit. Many sellers will agree to a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment