My partner and I are only a couple days away from an exchange on a property in Shaw and my parents have sent the exchange deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my conveyancing practitioner needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I informed the mortgage company about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?

Your solicitor is duty bound to clarify with mortgage company to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.

The Shaw conveyancing firm that I appointed last week on my house acquisition in Shaw have without warning shut down. I chose them because I needed a firm on the Santander conveyancing panel and my previous Shaw lawyer was not. I cut them a cheque for two hundred pounds in advance. What do I do now?

Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Santander conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.

How does conveyancing in Shaw differ for new build properties?

Most buyers of new build premises in Shaw contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because house builders in Shaw tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Shaw or who has acted in the same development.

Hoping to buy a property located in Shaw and I am already nervous. I couldn't find anything specific about Shaw. Conveyancing will be needed in due course but do you know about the Shaw area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Shaw. In the meantime here are some basic statistics that we found

I am a negotiator for a busy estate agency in Shaw where we have experienced a number of flat sales derailed due to short leases. I have been given inconsistent advice from local Shaw conveyancing firms. Can you clarify whether the vendor of a flat can instigate the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Shaw Leasehold Conveyancing - A selection of Queries Prior to buying

You should be aware that where the lease has no more than eighty years it will have adverse implications on the marketability of the property. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will most likely require a lease extension at some point and you need to have some idea of how much this will be. For most Shawlease extensions you will need to own the residence for a couple of years before you are eligible to extend the lease. Please tell me if there are any major works anticipated that will add a premium to the maintenance fees? Its a good idea to find out as much as you can concerning the managing agents as they can either make life much easier or much more difficult. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to practical matters like the upkeep of the communal areas. Don't be afraid to ask other tenants what they think of their service. In conclusion, be sure you understand the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money.