My lawyer has uncovered a a legal deficiency with the lease for the apartment we are purchasing in Totterdown. The seller’s lawyers have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancer says that he must ensure that the bank is happy with this solution. Are we the client or is the bank?

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

Are there restrictive covenants that are commonly identified during conveyancing in Totterdown?

Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Totterdown. 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…’

We're novice buyers - had an offer accepted, yet the property agent told us that the seller will only issue a contract if we appoint the agent's preferred conveyancers as they need an ‘expedited deal’. Our preferred option is to instruct a family conveyancer used to conveyancing in Totterdown

We suspect that the seller is unaware of this request. Should the owner desire ‘a quick sale', turning down a genuine purchaser is going to damage their objectives. Contact the sellers directly and make the point that (a)you are genuine buyers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you intend to use your own,trusted Totterdown conveyancing firm - rather thanthose that will give their estate agent a referral fee or achieve conveyancing figures set by head office.

I am a negotiator for a reputable estate agent office in Totterdown where we see a number of flat sales jeopardised as a result of short leases. I have been given conflicting advice from local Totterdown conveyancing solicitors. Could you confirm whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

I own a leasehold flat in Totterdown, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Totterdown with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease runs out on 21st October 2085

With just 60 years left to run we estimate the price of your lease extension to span between £20,000 and £23,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account 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 without first getting professional advice.

I have just had an offer accepted on an apartment in Totterdown and the estate agent that we are using recommended his solicitor. She quoted nine hundred pounds including VAT and 3rd party costs. Does this sound reasonable?

You should not rely on a single quote. One should seek like-for-like quotes for your conveyancing in Totterdown. Then select one that you are comfortable with and just as important, is on the approved list of the lender that you are sourcing your mortgage from.