My husband and I are only a couple days away from an exchange on a house in Henley On Thames and my mum and dad have sent the exchange deposit to my solicitor. I am now advised that as the deposit has not arrived from me my lawyer needs to make a notification to my bank. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?

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

What is your number one tip for finding a conveyancing solicitor in Henley On Thames

Do not opt for the lowest Henley On Thames conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.

I am the only beneficiary of my late father’s estate with all property in now in my sole name, including the my former home in Henley On Thames. Conveyancing formalities meant that the Land Registry date was in December. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', meaning my property ownership could be regarded the same way as though I had purchased the house in December. Will no one buy the property for half a year?

The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. Most banks would take a practical view as this requirement principally exists to capture subsales or the quick reselling of properties.

Intending to buy a apartment in Henley On Thames. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Henley On Thames conveyancer is on the Coventry BS conveyancing panel.

I have been told that property searches are the primary reason for stalling in Henley On Thames conveyancing transactions. Is that correct?

The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of slowing down conveyancing in Henley On Thames.

Are there restrictive covenants that are commonly identified as part of conveyancing in Henley On Thames?

Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Henley On Thames. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

I am attracted to a couple of flats in Henley On Thames which have about fifty years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Henley On Thames is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most purchasers 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 Henley On Thames conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 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.

Henley On Thames Leasehold Conveyancing - Examples of Questions you should ask before buying

Its a good idea to discover as much as possible regarding the managing agents as they will either make your living at the property much simpler or problematic. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to every day issues like the cleanliness of the communal areas. You should not be shy to ask other tenants whether they are happy with their service. In conclusion, be sure you discover the dates that the maintenance fees are due to the relevant party and specifically what you get for your money. If a Henley On Thames lease has no more than eighty years it will affect the salability of the apartment. Check with your mortgage company that they are happy with the length of the lease. A short lease means that you will probably have to extend the lease at some point and you need to have some idea of how much this will be. Remember, in most cases you will be be obliged to have owned the residence for a couple of years in order to be eligible to extend the lease. Who manages the block?