We are planning to acquire a property and require a conveyancing solicitor in Cowbridge who is on the Leeds Building Society solicitor panel. Could you point me in the right direction as regards a firm?

Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Leeds Building Society . We don't recommend any particular firms conducting conveyancing in Cowbridge.

It has been four months following my purchase conveyancing in Cowbridge concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Do I need to be concerned about third parties that I am dealing with are encouraging me to use a national conveyancing firm rather than a local Cowbridge conveyancing company?

As is the case with many service providers, often suggestions from connections can be extremely useful or valuable. Nevertheless there are numerous players in a conveyancing matter; estate agents, mortgage brokers and lenders might all recommend solicitors to retain. On occasion the conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there behind the scenes commercial relationship behind the recommendation. You are at liberty to appoint your preferred lawyer. However, bear in mind that most lenders specify a panel list of law firms you must use for the lender aspect of your transaction.

I am employed by a busy estate agency in Cowbridge where we have witnessed a number of flat sales jeopardised as a result of short leases. I have been given contradictory information from local Cowbridge conveyancing firms. Could you shed some light as to whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser 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 simultaneously with 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 purchaser.

Leasehold Conveyancing in Cowbridge - Sample of Questions you should consider Prior to Purchasing

If a Cowbridge lease has no more than eighty years it will impact the value of the property. It is worth checking with your lender that they are happy with the length of the lease. A short lease means that you will most likely need a lease extension at some point and you need to have some idea of what this will be. Remember, in most cases you would be be obliged to have owned the residence for two years in order to be legally able to exercise a lease extension. Best to be warned if fixing the lift or some other significant cost is due in the near future to be shared amongst the tenants and will dramatically impact the level of the maintenance fees or necessitate a one off invoice. On the whole the cost for major works are not wrapped into the maintenance charges, although some managing agents in Cowbridge require leaseholders to pay into a sinking fund created for the specific intention of establishing a fund for larger repairs or maintenance.

When it comes to my conveyancing in Cowbridge should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee

(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Cowbridge conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.