I sincerely hope you can help me. My Cardiff Bay conveyancer is informing me me that he is legally obliged toapply for Cardiff Bay conveyancing searches asthe firm are on the Lloydsapproved lawyer panel. Is this really necessary?

Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a bank your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Cardiff Bay conveyancing searches.

Are there restrictive covenants that are commonly identified during conveyancing in Cardiff Bay?

Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Cardiff Bay. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

How does conveyancing in Cardiff Bay differ for newly converted properties?

Most buyers of new build residence in Cardiff Bay come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because developers in Cardiff Bay tend to purchase the site, 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 accustomed to new build conveyancing in Cardiff Bay or who has acted in the same development.

Having had my offer accepted I require leasehold conveyancing in Cardiff Bay. Before I get started I would like to find out the number of years remaining on the lease.

If the lease is registered - and almost all are in Cardiff Bay - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I purchased a 1 bedroom flat in Cardiff Bay, conveyancing having been completed in 2008. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Cardiff Bay with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 per annum. The lease ends on 21st October 2085

With only 61 years left to run we estimate the premium for your lease extension to span between £18,100 and £20,800 plus costs.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

Is it true that a Cardiff Bay conveyancing practice got sued by clients for not carrying out the right conveyancing searches?

We are not aware of such a Cardiff Bay conveyancing matter but it has been reported that, a couple purchasing a home in Cumbria successfully won a case against their property lawyer due to development permission to construct a wind farm not being identified in conveyancing searches.

If you are buying in Cardiff Bay It is essential that your lawyer carry out all Cardiff Bay conveyancing searches required to ensure you have accurate and up to date information ahead of acquiring a property.