I can't travel far from Abergele. I would like to know the logic why all Abergele solicitors aren't included on all mortgage company panels?

Before the recession most banks demonstrated an approach to risk which differs from the current day. The financial regulator in 2010 conducted a thematic review into mortgage fraud which in summary warned lenders: know the conveyancers on your panel. Consequently, mortgage companies have subsequently requiredmore information from law firms about their processes and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Many law practices have found themselves removed from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of amount of transactions the lenders required.

Me and my brother have a terraced Edwardian house in Abergele. Conveyancing practitioner represented me and Lloyds TSB Bank. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??

You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Abergele and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with the conveyancing lawyer who conducted the purchase.

I'm purchasing a new build house in Abergele with a mortgage from Yorkshire Building Society. The sellers refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not inform my solicitor about this side-deal as it may put at risk my mortgage with the lender. Is this normal?.

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.

I am looking at a two flats in Abergele which have about 50 years left on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Abergele is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most buyers and mortgage companies, leases with less than 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 property 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 premises 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 Abergele 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 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.

I am the registered owner of a studio flat in Abergele, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Equivalent flats in Abergele with over 90 years remaining are worth £186,000. The ground rent is £55 yearly. The lease ceases on 21st October 2077

You have 53 years left to run the likely cost is going to range between £27,600 and £31,800 plus professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

At what stage do I cover the costs of stamp duty due for my purchase in Abergele?

Your lawyer will complete a stamp duty return for you during your Abergele purchase transaction for signature. On completion your conveyancer will submit the STL Return Form to the Inland Revenue and - assuming they have the funds - pay any Stamp Duty liability for you.