We are only a couple days away from an exchange on a house in Boxmoor and my parents have transferred the exchange deposit to my conveyancing practitioner. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I disclosed to the lender regarding my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?

The lawyer is duty bound to clarify with the bank to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.

How up to date is your database of Boxmoor solicitors on the Nottingham conveyancing panel? Do Nottingham send you an updated list?

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

We wanted to use a conveyancing solicitor in Boxmoor for our house move. Our broker informed us that our mortgage company Aldermore won't deal with them. Why is this not regarded as unduly restrictive?

Before the recession most lenders had an appetite for risk which was higher than today. Almost all Boxmoor conveyancing firms would have been on many mortgage company panels. The FSA in 2010 completed a thematic review into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more information from law firms relating to their operations and their employees and establishing certain criteria such a completing on a minimum amount of transactions. Many Boxmoor conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Boxmoor is amongst the thousands of locations where the lawyers we list are are approved Aldermore.

Due to the encouragement of my in-laws I had a survey completed on a property in Boxmoor prior to appointing conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies tend not issue a loan on this type of premises.

It varies from the lender to lender. HSBC has different instructions for example to Nationwide. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Boxmoor. Conveyancing may be slightly more expensive based on your lender's requirements.

Last August I purchased a leasehold house in Boxmoor. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I purchased a garden flat in Boxmoor, conveyancing was carried out April 1995. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Boxmoor with a long lease are worth £185,000. The ground rent is £65 levied per year. The lease runs out on 21st October 2085

With 60 years left to run the likely cost is going to span between £20,000 and £23,000 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.