I am due to exchange buying a house in Corwen but as a consequence of wreckage from some water damage at the property I have was able negotiate compensation from the current proprietors of £3k by way of a reduction in the price. I had intended this to be addressed as part of the conveyancing process but Nationwide will not agree to this. Should they have been approached?

The conveyancer being on the Nationwide approved list is required to inform Nationwide of any changes to the purchase price. If you were to refuse your property lawyer to report the price change to Nationwide then they would have to discontinue acting for you. In addition, Nationwide and you would have to appoint a new solicitor for your conveyancing in Corwen.

I am buying my first flat in Corwen with a loan from Nottingham Building Society. The sellers refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The property agent told me not reveal to my lawyer about this deal as it could impact my mortgage with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder 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 need to retain a conveyancing solicitor for sale conveyancing in Corwen. I've chance upon a site which appears to be the ideal offering If there is a chance to get all the legals completed via phone that would be preferable. Do I need to be wary? What should out be looking out for?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

What makes a Corwen lease unmortgageable?

Leasehold conveyancing in Corwen is not unique. All leases are individual and legal mistakes in the legal wording can result in certain provisions are not included. The following missing provisions could result in a defective lease:

Service charge per centages that don't add up correctly leaving a shortfall Insurance obligations

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Coventry Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.

I am the registered owner of a studio flat in Corwen, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Corwen with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 per annum. The lease finishes on 21st October 2087

With just 63 years unexpired we estimate the price of your lease extension to range between £16,200 and £18,600 plus legals.

The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.

I have selected a Corwen conveyancing solicitor for our home move (FTB’s) and have noticed in the Ts and Cs that they are not regulated by the Financial Conduct Authority. Should I be concerned or is that usually the case with conveyancing practitioner?

We can't see why they should be. Most conveyancer don't lend money. You should check that they are regulated by the SRA, who have specific conditions in place on amounts deposited by them.