I am hoping to receive a mortgage offer from Nat West. I hope to use a Licensed Conveyancer in Caerwent. Does the Nat West Conveyancing panel include Licensed Conveyancers?

The Nat West conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.

It is a dozen years since I purchased my home in Caerwent. Conveyancing lawyers have just been retained on the sale but I am unable to track down my deeds. Will this jeopardise the sale?

Don’t worry too much. First there is a chance that the deeds will be with your mortgage company or they may stored with the solicitor who acted in your purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining current official copies of the land registers. Almost all conveyancing in Caerwent involves registered property but in the rare situation where your home is not registered it is more of a problem but is not insurmountable.

Can you clarify what the consequences are if my solicitor is removed from the Barclays Conveyancing panel ahead of completing my conveyancing in Caerwent?

The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

How does conveyancing in Caerwent differ for newly converted properties?

Most buyers of new build property in Caerwent contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is built. This is because new home sellers in Caerwent typically buy 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 conveyancing solicitors 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 used to new build conveyancing in Caerwent or who has acted in the same development.

When it comes to leasehold conveyancing in Caerwent what are the most common lease defects?

Leasehold conveyancing in Caerwent is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

Maintenance charge proportions which don’t add up to the correct percentage Insurance obligations

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Virgin Money, and Britannia all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.

I inherited a ground floor flat in Caerwent, conveyancing formalities finalised in 2011. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Caerwent with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease ends on 21st October 2083

With 59 years unexpired the likely cost is going to be between £20,900 and £24,200 plus legals.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.