My partner and I are only a couple days away from an exchange on a flat in Wigton and my parents have sent the ten percent deposit to my conveyancing practitioner. I am now told that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my bank. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?

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

4 months have gone by following my purchase conveyancing in Wigton concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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.

Taking into account that I will soon part with over three hundred thousand on a terraced house in Wigton I would like to have a conversation with the conveyancer concerning thehouse move prior to instructing the firm. Can this be arranged?

This is something that we encourage - it is our preference to talk to you we do not take any clients on without you first talking to the conveyancer who will be carrying out your property ownership legalities in Wigton.There is no ‘factory style conveyancing’ - each client is unique individual, not a case number. The law firms that we put you in touch with believe that the fees you are provided with for residential conveyancing in Wigton should be the figure that you are charged.

My cousin has recommend that I instruct his conveyancing solicitors in Wigton. Should I use them?

Much as we are happy to recommend a Wigton conveyancing lawyer the ideal way to find a conveyancing practitioner is to seek feedback from friends or relatives who have previously instructed the firm that you are are thinking of instructing.

I am attracted to a couple of apartments in Wigton both have about fifty years unexpired on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Wigton is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. For most purchasers and banks, leases with less than 75 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 Wigton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed 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.

Wigton Leasehold Conveyancing - A selection of Questions you should consider Prior to buying

Does the lease have in excess of 82 years unexpired? Who manages the building? How many of the leaseholders are in arrears for their service charge payments?