Is the fact that my conveyancer in Aberystwyth is not on my mortgage company's solicitor panel that there is a problem with the standard of the firm’s conveyancing?

It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Aberystwyth conveyancing practice and ask them why they are no longer on the approved list for your bank.

My partner and I are planning on selling our property in Aberystwyth and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A local lawyer would know this is not the case. For the life of me I don't know why the buyers used a factory type conveyancing firm rather than a conveyancing solicitor in Aberystwyth. We have lived in Aberystwyth for many years we know of no issue. Do we contact our local Authority to obtain confirmation that there is no issue.

It would appear that you have a conveyancing solicitor already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)

How does conveyancing in Aberystwyth differ for newly converted properties?

Most buyers of new build property in Aberystwyth come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is built. This is because builders in Aberystwyth tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Aberystwyth or who has acted in the same development.

I opted to have a survey carried out on a house in Aberystwyth prior to retaining conveyancers. I have been advised that there is a flying freehold element to the property. My surveyor advised that some banks will not grant a loan on a flying freehold home.

It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. If you e-mail us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Aberystwyth. Conveyancing will be smoother if you use a solicitor in Aberystwyth especially if they regularly deal with such properties in Aberystwyth.

When it comes to leasehold conveyancing in Aberystwyth what are the most common lease problems?

Leasehold conveyancing in Aberystwyth is not unique. All leases are drafted differently and drafting errors can result in certain sections are wrong. The following missing provisions could result in a defective lease:

Repairing obligations to or maintain elements of the property

You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Norwich and Peterborough Building Society, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.

I acquired a garden flat in Aberystwyth, conveyancing was carried out in 1995. Can you work out an approximate cost of a lease extension? Corresponding flats in Aberystwyth with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease runs out on 21st October 2081

With 57 years remaining on your lease we estimate the premium for your lease extension to span between £26,600 and £30,800 as well as legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.