The Clayhall conveyancing firm handling our Clayhall conveyancing has identified an inconsistency when comparing the assumptions in the home valuation report and what is revealed within the legal papers for the property. My lawyer says that he is obliged to ensure that the lender is happy with this discrepancy and is still content to lend. Is my solicitor’s stance appropriate?

Your lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

This question may be naive but I am new to the process as a 1st time purchaser of a garden flat in Clayhall. Do I pick up the keys to the house on the completion date from my lawyer? If so, I will appoint a local conveyancing solicitor in Clayhall?

On the day of completion you do not need to go to the conveyancers office in Clayhall. Conveyancing lawyers for you will transfer the completion advance to the vendor’s conveyancers, and shortly after the monies have arrived, you should be able to collect the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.

Is it correct that all Clayhall CQS (Conveyancing Quality Scheme) solicitors are on the TSB conveyancing panel?

It is true that some lenders now make use of CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.

I am buying a property in Clayhall. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nationwide be concerned?

Given that your lender is Nationwide your lawyer must follow the formal instructions outlined in Part 2 of UK Finance Lenders’ Handbook for Nationwide. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to Nationwide where a lease fails to meet these requirements. The provisions relate to the installation of panels on properties nationwide and is not limited to Clayhall.

I am purchasing a new build house in Clayhall benefiting from help to buy. The developers refused to budge the amount so I negotiated 6k of additionals instead. The estate agent told me not to tell my conveyancer about this side-deal as it will adversely affect my mortgage with Nationwide Building Society. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one near me in Clayhall I like with open areas and railway links nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Clayhall for this price, so just wondered if I would be making a grave error purchasing a short lease?

Should you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you may request that they 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 consult your conveyancing lawyer regarding this.

I am tempted by the attractive purchase price for a two flats in Clayhall which have approximately 50 years remaining on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Clayhall is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. The majority of buyers and mortgage companies, leases with under 75 years become less and less attractive. On a more upbeat 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 Clayhall 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 any new 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.

I have had difficulty in seeking a lease extension in Clayhall. Can the Leasehold Valuation Tribunal adjudicate on premiums?

You certainly can. We are happy to put you in touch with a Clayhall conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a Clayhall flat is 59 & 59a Clarendon Gardens in February 2014. The Tribunals valuation for the freehold was £30,073.00 The remaining number of years on the lease was 65 and 61.