Can you explain why leasehold purchase conveyancing in Cwmbran is more expensive?

The conveyancing fees on a leasehold premises in Cwmbran is frequently more expensive than on a freehold transaction. This is because there is an amount of additional time required in corresponding with the landlord and managing agents to obtain evidence concerning whether the rent and service fee have been cleared and whether there are any major works due in the near future on repairs or maintenance of the block.

I am being told by my conveyancer that lack of right of way insurance is necessary on my purchase. What is the level of cover for Cwmbran conveyancing?

The right level of lack of right of way indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and Leeds Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.

We have agreed to purchase a house in Cwmbran. A rare aspect is that the roof has a solar panel. Nottingham have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?

As you are obtaining a mortgage with Nottingham your lawyer must follow the conveyancing instructions set out in Part two of UK Finance Lenders’ Handbook for Nottingham. The Council of Mortgage Lenders’ Handbook includes minimum provisions for solar panel roof-space leases, and lawyers are required to report to Nottingham where a lease does not satisfy these specifications. The requirements relate to the installation of panels on properties nationwide and is not restricted to Cwmbran.

After shopping around on the internet I have found a Cwmbran lawyer having checked that they are on the Clydesdale conveyancing panel. Does my lawyer arrange the survey of the property?

Clydesdale will need an independent valuation of the property. Your lawyer will not arrange this. Usually Clydesdale will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Cwmbran postcode. As you are getting a mortgage with Clydesdale, you could contact them to see if they have a list of approved surveyors in Cwmbran.

Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Cwmbran is the location of the property. Can you offer any guidance?

Flying freeholds in Cwmbran are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cwmbran you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cwmbran may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

Should I be suspicious about brokers that I am dealing with are encouraging me to use a web based conveyancing firm as opposed to a local Cwmbran conveyancing company?

As is the case with many service providers, often referrals from family and friends can be most helpful. Nevertheless there are numerous parties with a keen interest in a conveyancing matter; estate agents, financial adviser and banks might all suggest lawyers to appoint. Sometimes the conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there is an underlying commercial relationship behind the recommendation. You are at liberty to choose your own lawyer. Don't forget that some lenders operate an approved list of law firms you must use for the mortgage aspect of your home move.

What are your top tips when it comes to choosing a Cwmbran conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Cwmbran conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with several firms including non Cwmbran conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:

Can they put you in touch with clients in Cwmbran who can give a testimonial?

I own a 1 bedroom flat in Cwmbran, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable flats in Cwmbran with a long lease are worth £260,000. The ground rent is £50 charged once a year. The lease comes to an end on 21st October 2099

With just 75 years unexpired the likely cost is going to be between £8,600 and £9,800 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.