My husband and I are planning to acquire a flat in Penyffordd and have instructed a Penyffordd conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Nationwide Building Society have this afternoon contacted us to inform me that they have now hit a problem as our Penyffordd solicitor is not on their conveyancing panel. What do we do from here?

If you are buying a property needing a mortgage it is standard for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Penyffordd solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.

Various web forums that I have frequented warn that are the main cause of delay in Penyffordd conveyancing transactions. Is this right?

The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances in the conveyancing process. Local searches are not likely to feature in any holding up conveyancing in Penyffordd.

I decided to have a survey done on a house in Penyffordd ahead of instructing solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some banks may refuse to grant a loan on a flying freehold house.

It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. If you e-mail us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Penyffordd. Conveyancing will be smoother if you use a solicitor in Penyffordd especially if they regularly deal with such properties in Penyffordd.

Harry (my fiance) and I may need to let out our Penyffordd garden flat temporarily due to taking a sabbatical. We instructed a Penyffordd conveyancing practice in 2002 but they have since shut and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Penyffordd do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I bought a 1 bedroom flat in Penyffordd, conveyancing having been completed in 1995. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Penyffordd with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ceases on 21st October 2077

With just 53 years left to run we estimate the price of your lease extension to range between £27,600 and £31,800 as well as professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

Builders have suggested I use a conveyancing practitioner and I've received a quote from them. It's nearly £250 less expensive than my preferred Penyffordd solicitor. Should I use them?

Developers often have panels of property lawyers who expedite matters and who know the developer’s contract and lawyer. As many developers offer an inducement to select a preferred conveyancer for this reason, any increased charges can be avoided and a developer won't put forward a conveyancing warehouse and run the risk of having the conveyancing stall when they demand an exchange within a tight deadline. A counter-argument for not opting for the recommended conveyancing practitioner is that they may prove hesitant to 'push' your interests at the risk of alienating the housebuilder. Where you have concerns that this may be the case you should keep with your high street Penyffordd lawyer.