Our lawyer has uncovered a a legal deficiency with the lease for the apartment we are purchasing in Oakleigh Park. The other side have offered defective title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer says that he must ensure that the bank is content with this solution. Who is the client here, us or the mortgage company ?

Even though you have a mortgage offer from the bank does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the bank are the client. These conveyancing instructions have to be complied with.

Various internet forums that I have visited warn that are the main cause of delay in Oakleigh Park house deals. Is that correct?

The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays in the conveyancing process. Local searches are not likely to feature in any delay in conveyancing in Oakleigh Park.

I'm purchasing my first flat in Oakleigh Park with the aid of help to buy. The builders would not reduce the amount so I negotiated £7000 of additionals instead. The estate agent told me not to tell my lawyer about the side-deal as it would adversely affect my loan with the lender. Should I keep quiet?.

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 have been on the look out for a leasehold apartment up to £195,000 and found one near me in Oakleigh Park I like with open areas and transport links in the vicinity, the downside is that it only has 49 years unexpired on the lease. There is not much else in Oakleigh Park for this price, so just wondered if I would be making a mistake purchasing a short lease?

Should you require a mortgage the remaining unexpired lease term may be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this.

Am I right to be concerned that third parties that I am dealing with are recommending a national conveyancing firm as opposed to a local Oakleigh Park conveyancing company?

As is the case with many service providers, often referrals from connections can be extremely useful or valuable. Yet there are numerous players in a conveyancing matter; estate agents, financial adviser and banks may put forward solicitors to instruct. On occasion these lawyers might be known to one of the organisations as experts in their field, but sometimes there exists a financial incentive behind the endorsement. You are free to choose your preferred lawyer. However, bear in mind that most lenders specify a panel list of law firms you have to use for the mortgage aspect of your conveyancing.