My wife and I are getting closer to an exchange on a property in Stalybridge and my parents have transferred the 10% deposit to my . I am now told that as the deposit has been sent from someone other than me my needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?

Your is legally required to check with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.

I am selling my flat in Stalybridge. Will my have to be on the conveyancing panel in order to deal with the discharge of my mortgage?

Ordinarily, even if your lawyer is not on the conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.

three months have elapsed following my purchase conveyancing in Stalybridge concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I opted to have a survey carried out on a house in Stalybridge before retaining lawyers. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some banks may not grant a mortgage on such a home.

It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. If you e-mail us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Stalybridge. Conveyancing may be slightly more expensive based on your lender's requirements.

I am attracted to a two apartments in Stalybridge which have about 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a period of time. As a lease gets shorter the value of the lease deteriorates and results in it becoming more costly to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this area.

I am the registered owner of a garden flat in Stalybridge, conveyancing was carried out 1995. Can you work out an approximate cost of a lease extension? Similar flats in Stalybridge with a long lease are worth £165,000. The average or mid-range amount of ground rent is £45 levied per year. The lease expires on 21st October 50

With 50 years remaining on your lease we estimate the price of your lease extension to span between £36,100 and £41,800 plus professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.