Unfortunately I am unable to travel far from Llantarnam. I would like to know the understand why all Llantarnam lawyers aren't automatically on all mortgage company panels?

Lenders highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The dismissal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies removing less reputable firms from their panel of approved solicitors .

My wife and I purchasing a terrace house in Llantarnam. We would like to convert the garage to an office at the property.Will legal conveyancing on the property involve checks to ascertain if these alterations were previously refused?

Your conveyancer will review the deeds as conveyancing in Llantarnam will on occasion reveal restrictions in the title deeds which prohibit categories of works or require the consent of another owner. Certain additions call for local authority planning consent and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be sensible to check these things with a surveyor before you commit yourself to a purchase.

I have a mortgage with Barclays for my property in Llantarnam. Conveyancing was finalised 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Barclays?

Your original mortgage agreement with Barclays will provide that you need their approval in advance of renting your property as this is likely to be a breach of Barclays’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. It should not be necessary to do this via a Barclays conveyancing panel lawyer.

It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Llantarnam bank branch on a couple of occasions and was advised it wasn't a problem and they would lend. My Llantarnam conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend in accordance with their specific requirements. Who do I believe?

Provided that the property lawyer is on the bank panel, she or he must adhere to the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

Should my lawyer be asking questions regarding flooding as part of the conveyancing in Llantarnam.

Flooding is a growing risk for solicitors conducting conveyancing in Llantarnam. There are those who acquire a property in Llantarnam, completely aware that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.

Conveyancers are not best placed to impart advice on flood risk, however there are a number of checks that can be initiated by the buyer or by their lawyers which will give them a better appreciation of the risks in Llantarnam. The standard property information forms given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a standard question of the seller to discover if the premises has ever been flooded. In the event that the residence has been flooded in past and is not notified by the owner, then a purchaser could bring a compensation claim stemming from an incorrect answer. The buyer’s solicitors will also carry out an environmental search. This will reveal whether there is a recorded flood risk. If so, additional investigations should be made.

Are there restrictive covenants that are commonly picked up during conveyancing in Llantarnam?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Llantarnam. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

What makes a Llantarnam lease unacceptable for security purposes?

Leasehold conveyancing in Llantarnam is not unique. All leases are individual and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:

Repairing obligations to or maintain parts of the property Insurance obligations

You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Skipton Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

I invested in buying a garden flat in Llantarnam, conveyancing formalities finalised 7 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Llantarnam with an extended lease are worth £191,000. The ground rent is £55 yearly. The lease expires on 21st October 2077

With 53 years remaining on your lease we estimate the premium for your lease extension to span between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.