Me and my partner are about to exchange on the purchase of a house in Llanberis but as a consequence of wreckage from some water damage at the property I have managed to agree reparation from the owner in the sum of £3k in the form of a deduction in the price. This was going to be addressed as part of the conveyancing process however Nationwide are not allowing this. Should they have been involved?

The property lawyer being on a Nationwide conveyancing panel is duty bound to inform Nationwide of any amendments to the sale price. If you were to refuse your conveyancer to disclose the reduction to Nationwide then they would have to discontinue acting for you. In addition, Nationwide and you would have to appoint a new property lawyer for your conveyancing in Llanberis.

Can you clarify what the consequences are if my lawyer’s firm is suspended from the UBS Solicitor panel ahead of completing my conveyancing in Llanberis?

First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

I have been on the look out for a leasehold apartment up to £195,000 and found one near me in Llanberis I like with amenity areas and railway links nearby, the downside is that it's only got 52 years on the lease. I can't really find anything else in Llanberis suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?

If you need a mortgage the remaining unexpired lease term may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.

I'm converting the mortgage on my primary house to a BTL mortgage with TSB and intend to use the remaining equity as a down payment on further house. The neighborhood we are looking at is Llanberis. Will your conveyancers be able to act for the two lenders and tie in the two deals?

Make use of our comparison tool on this page to be sure that the solicitors are approved by both banks. Having checked that they are your conveyancer should be able to connect the two transactions but you should talk with you conveyancer and make apparent your desired outcome and requirements.

I am attracted to a two apartments in Llanberis which have approximately forty five years unexpired on the lease term. should I be concerned?

There are plenty of short leases in Llanberis. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area.

I purchased a split level flat in Llanberis, conveyancing was carried out May 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Llanberis with a long lease are worth £206,000. The ground rent is £45 invoiced every year. The lease ends on 21st October 2091

You have 66 years unexpired the likely cost is going to span between £12,400 and £14,200 as well as costs.

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 due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.