We are only a couple days away from an exchange on a house in Gosforth and my mum and dad have transferred the exchange deposit to my lawyer. I am now advised that as the deposit has been received from someone other than me my conveyancer needs to disclose this to my lender. 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 concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?

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

At what point does exchange of contracts happen for residential conveyancing in Gosforth and am I required to attend the solicitors office?

If you are round the corner to one of the conveyancing solicitors in Gosforth you are welcome to attend to sign the paperwork. That being said, the law practices we work with supply a national conveyancing service and provide just as detailed and professional a job for you when communicating with you by post or email. The executing of the contract is not the point of no return. A signed contract is necessary for the firm to exchange contracts at the suitable time, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Gosforth)to be in the office available at the end of the phone to exchange contracts.

I have just over seventy years left on my lease and need a lease extension for my flat in Gosforth. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions right?

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 21/1/2025 the requirements read as follows :

What makes your site different to alternative online quote calculators for conveyancing in Gosforth?

At this site secure an accurate quote from a Solicitor or Licensed Conveyancer that appreciates the nuances for your conveyancing in Gosforth. As opposed to estate agents and brokerage sites we are not in the business of charging firms a fee if you choose them for your conveyancing in Gosforth

Can you provide any advice for leasehold conveyancing in Gosforth from the point of view of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Gosforth can be bypassed if you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the buyers’ lawyers.
Some Gosforth leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Gosforth leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord acquiescing to such changes. If you dont have the approvals to hand do not contact the landlord without contacting your solicitor before hand. You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your lawyers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Arranging a re-issued share certificate can be a time consuming formality and delays many a Gosforth conveyancing transaction. If a reissued share certificate is needed, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.

I purchased a ground floor flat in Gosforth, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Gosforth with over 90 years remaining are worth £180,000. The ground rent is £65 charged once a year. The lease ceases on 21st October 2083

You have 58 years unexpired the likely cost is going to range between £22,800 and £26,400 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.