My husband and I are purchasing a 2 bedroom flat in Deganwy with a mortgage. We have a Deganwy conveyancer, but the lender advise she’s not on their "panel". It seems we have little choice but to use one of the mortgage company panel firms or continue with our Deganwy lawyer as well as pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?

Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Deganwy conveyancing lawyer to apply to be on the conveyancing panel.

Why is leasehold purchase conveyancing in Deganwy costs more?

In summary, leasehold conveyancing in Deganwy and elsewhere usually necessitates more hours of investigation compared to freehold transactions. This includes lease investigation, corresponding with the landlord concerning serving applicable notices, obtaining up-to-date service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first entered into.

I have been on the look out for a ground for flat up to £245,000 and found one close by in Deganwy I like with a park and transport links nearby, however it only has 49 remaining years left on the lease. There is not much else in Deganwy for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you need a home loan the shortness of the lease will be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.

My father-in-law has recommend that I appoint his conveyancers in Deganwy. Should I use them?

No doubt it’s preferable to find a conveyancing lawyer is to get guidance from friends or relatives who have experience in using the firm you're contemplating using.

Having had my offer accepted I require leasehold conveyancing in Deganwy. Before diving in I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Deganwy - then the leasehold title will always include the short particulars 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.

Deganwy Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

How much is the annual service fee and ground rent? Plenty Deganwy leasehold properties will incur a service bill for the upkeep of the block set by the landlord. Where you purchase the apartment you will have to pay this charge, usually in instalments throughout the year. This may be anything from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a ground rent to be met annual, this is usually not a exorbitant amount, say about £25-£75 but you should to enquire as on occasion it could be surprisingly expensive.