I am not in a position to travel far from Pontypool. I would like to know the logic why all Pontypool property lawyers aren't included on all bank panels?

Before the recession most banks demonstrated an attitude to risk which differs from the current day. The Financial Services Authority in 2010 instigated a thematic review into property fraud which in summary warned lenders: know the lawyers on your panel. Accordingly, mortgage companies have since looked to extract more data from law firms regarding their processes and the individuals who work for them and set certain criteria such as completing a minimum amount of transactions. Many firms have found themselves excluded from lender panels even though they had 100% healthy track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of amount of transactions the lenders required.

I am the registered owner of a freehold property in Pontypool but still pay rent, why is this and what is this?

It’s unusual for properties in Pontypool and has limited impact for conveyancing in Pontypool but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.

Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.

What can a local search tell me about the house I am buying in Pontypool?

Pontypool conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for instance Xpress Legal The local search plays an important part in many a Pontypool conveyancing purchase; as long as you don’t want any nasty once you have moved into your new home. The search should reveal information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.

I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Pontypool is the location of the property. Can you shed any light on this issue?

Flying freeholds in Pontypool are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pontypool you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pontypool 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 residence.

Do you have any top tips for leasehold conveyancing in Pontypool with the aim of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Pontypool can be reduced if you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the buyers’ representatives.
If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share certificate. Arranging a re-issued share certificate is often a lengthy process and frustrates many a Pontypool home move. Where a new share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity. In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Pontypool state that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord acquiescing to such works. If you fail to have the paperwork in place you should not contact the landlord without contacting your lawyer before hand. Some Pontypool leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors. You believe that you know the number of years remaining on your lease but you should double-check by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

I acquired a 1 bedroom flat in Pontypool, conveyancing having been completed April 2008. How much will my lease extension cost? Comparable flats in Pontypool with over 90 years remaining are worth £181,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2074

With just 50 years left to run we estimate the premium for your lease extension to span between £32,300 and £37,400 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.