My partner and I are only a couple days away from an exchange on a flat in Beckton and my parents have transferred the ten percent deposit to my lawyer. I am now informed that as the deposit has not come from me my conveyancer needs to disclose this to my bank. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?

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

Over the last few months I have been searching for a flat up to £305k and found one round the corner in Beckton I like with amenity areas and transport links nearby, however it's only got 49 years unexpired on the lease. There is not much else in Beckton for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?

Should you require a mortgage that many years may be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.

My company is planning to lease a unit on the high street. Can you recommend solicitors offering no-move-no costs for commercial conveyancing in Beckton for below £1,200?

We can recommend firms who have an in-depth of experience of commercial conveyancing in Beckton, including the sale and purchase of businesses as well as simply property. If you are looking to buy or sell a shop, pub, restaurant, office, retail premises or a complete business we can find you the right lawyer. Regarding the fees this will depend on the structure and nuances of the deal. Please provide us with your details or call so as to enable us to provide you with a fixed commercial conveyancing quote.

My husband and I are FTB’s - had an offer accepted, yet the property agent has warned us that the vendor will only issue a contract if we instruct the agent's recommended conveyancers as they need an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer accustomed to conveyancing in Beckton

It is highly unlikely the sellers are behind this. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Try to communicate with the vendors directly and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)however you are going to use your preferred Beckton conveyancing solicitors - not the ones that will give the estate agent a referral fee or achieve conveyancing thresholds demanded by HQ.

I am tempted by the attractive purchase price for a two flats in Beckton which have about fifty years unexpired on the leases. should I be concerned?

There is no doubt about it. A leasehold flat in Beckton is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most buyers and lenders, leases with under 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 premises 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 Beckton 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 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.

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

Absolutely. We can put you in touch with a Beckton conveyancing firm who can help.

An example of a Lease Extension decision for a Beckton flat is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The unexpired lease term was 69.77 years.