My partner and I are buying a newly built flat in Nantyglo and my conveyancer is advising me that she has to the bank to disclose incentives from the developer. I am under pressure to sign contracts and my preference is not to prolong matters. Is my lawyer right?

You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.

When it comes to lenders such as RBS, do Nantyglo conveyancers have to pay a yearly amount to be on the list of approved solicitors?

We are unaware of any lender fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.

We expect to receive a OIP from Barclays this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Barclays recommend any Nantyglo solicitors on the Barclays conveyancing panel, or is it better to find our own lawyer?

You will need to appoint Nantyglo solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.

I'm in the process of looking at flats in Nantyglo and I am now considering a potential offer. Is it sensible to have my conveyancing practitioner on ‘stand by’? I intend to finance via a home loan with Lloyds.

You should start obtaining conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. Given that you are seeking a mortgage with Lloyds, make sure you remember to check that your lawyer is on the Lloyds conveyancing panel.

It has been 4 months since my purchase conveyancing in Nantyglo concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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 premises 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.

Just had an offer accepted on a new build apartment in Nantyglo. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Nantyglo

Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.

Due to the input of my in-laws I had a survey completed on a property in Nantyglo prior to retaining lawyers. I have been told that there is a flying freehold aspect to the house. Our surveyor has said that some banks tend refuse to grant a loan on such a home.

It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. If you contact us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Nantyglo. Conveyancing will be smoother if you use a solicitor in Nantyglo especially if they are accustomed to such properties in Nantyglo.