Am I correct in assuming that the fact that my solicitor in Crynant is not identified on my lender's solicitor panel that there is a problem with the standard of her conveyancing?

That would most likely be an incorrect assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters 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 solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Crynant conveyancing practice and enquire why they are no longer on the approved list for your bank.

What will a local search reveal regarding the house I am buying in Crynant?

Crynant conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company for example Searches UK The local search plays a central role in many a Crynant conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. 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 13 subject headings.

How does conveyancing in Crynant differ for newly converted properties?

Most buyers of new build residence in Crynant contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is built. This is because builders in Crynant tend to buy 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 conveyancers 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 Crynant or who has acted in the same development.

Over the last few months I have been searching for a ground for flat up to £235,500 and found one near me in Crynant I like with a park and station in the vicinity, however it only has 61 years on the lease. I can't really find anything else in Crynant for this price, so just wondered if I would be making a mistake buying a short lease?

If you require a home loan that many years may be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.

I am employed by a busy estate agent office in Crynant where we have witnessed a number of leasehold sales put at risk as a result of short leases. I have received inconsistent advice from local Crynant conveyancing solicitors. Please can you clarify whether the vendor of a flat can instigate the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

An alternative approach is 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 buyer.

Leasehold Conveyancing in Crynant - Sample of Queries Prior to buying

Please note that where the lease has fewer than 80 years it will impact the marketability of the flat. It is worth checking with your bank that they are content with the length of the lease. Leases with fewer than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth finding out what this will be. Remember, in most cases you will be required to have owned the premises for a couple of years in order to be eligible to extend the lease. How is the lease structured? Who manages the building?