We are intending to buy a 2 bedroom flat in Beaumaris with a mortgage. We like our Beaumaris solicitor, however the lender advise she’s not on their "panel". It appears that we have no option but to use one of the mortgage company panel solicitors or continue with our Beaumaris property lawyer as well as pay for one of their panel lawyers to act for them. This seems very unfair; are we not able to require that the lender use our Beaumaris conveyancer ?

Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Beaumaris conveyancing lawyer to apply to be on the conveyancing panel.

We're in Beaumaris, First timers buying with a mortgage (lender is Leeds Building Society , and our lawyer is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

three months have elapsed since my purchase conveyancing in Beaumaris took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. 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.

I am employed by a long established estate agency in Beaumaris where we have experienced a few flat sales derailed due to short leases. I have received inconsistent advice from local Beaumaris conveyancing firms. Please can you confirm whether the owner of a flat can instigate the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Beaumaris Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing

Are there any major works in the planning that will increase the maintenance fees? Where a Beaumaris lease has no more than eighty years it will have adverse implications on the marketability of the property. Check with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and you need to have some idea of how much this will be. For most Beaumarislease extensions you would need to own the premises for two years in order to be legally able to carry out a lease extension. The answer will be useful as a) areas can result in problems for the building as the common areas may begin to deteriorate if maintenance are not paid for b) if the leasehold owners have a dispute with the managing agents you will want to know about it

I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the bank conveyancing panel. My lawyer has said that they are on the bank approved panel. How can I be sure given that they are not listed on your directory?

Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the mortgage company conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the mortgage company solicitor panel.