We are nearing an exchange on a house in New Southgate and my parents have sent the 10% deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my mortgage company. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?

The conveyancer is obliged to clarify with mortgage company to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.

Do lenders provide you with an approved list of New Southgate conveyancing solicitors? How do you know who is on the UBS conveyancing panel?

New Southgate conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.

About to place an offer on a leasehold property in New Southgate. The selling agents advise that it is normal for flats in New Southgate to have less than 75 years remaining. I am getting a loan with Chelsea Building Society. Is this going to be acceptable if the lease has Seventy One years to go.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 2/12/2025 the requirements read as follows :

Will our lawyer be making enquiries concerning flooding as part of the conveyancing in New Southgate.

Flooding is a growing risk for lawyers carrying out conveyancing in New Southgate. There are those who purchase a house in New Southgate, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.

Solicitors are not best placed to give advice on flood risk, but there are a various searches that may be undertaken by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in New Southgate. The standard property information forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the vendor to find out whether the property has ever been flooded. If flooding has previously occurred and is not disclosed by the vendor, then a purchaser could issue a legal claim for losses as a result of such an misleading answer. The purchaser’s lawyers may also order an environmental report. This should reveal whether there is any known flood risk. If so, further inquiries should be conducted.

What are your top tips when it comes to choosing a New Southgate conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a New Southgate conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with two or three firms including non New Southgate conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:

How familiar is the firm with lease extension legislation? If they are not ALEP accredited then what is the reason?

Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in New Southgate. Can this matter be resolved via the Leasehold Valuation Tribunal?

if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the premium.

An example of a Freehold Enfranchisement decision for a New Southgate flat is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The unexpired residue of the current lease was 70.31 years.