At what point does exchange of contracts take place for purchase conveyancing in Aberystwyth and do I need to attend the conveyancers office?

If you are in close proximity to one of the conveyancing solicitors in Aberystwyth you are invited in to sign the paperwork. However, the lender approved solicitors we work with offer countrywide coverage for conveyancing and give just as detailed and professional a job for you when communicating with you digitally. The signing of the purchase agreement is not the point of no return. Signing on the dotted line simply enables the conveyancer to address the formalities at the appropriate time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Aberystwyth)to be in the office at the appropriate time.

In looking at mumsnet.com for a cheap lawyer in Aberystwyth, most comment that I must look for a CQS accredited lawyer. What is CQS?

The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in buying or selling property, trusted by some of the UK's biggest banks. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). The scheme does not cover licenced conveyancers. Aberystwyth is one of the many areas in England and Wales where there are Accredited lawyers.

We previously chose solicitors locally in Aberystwyth on the Leeds Building Society solicitor panel. They have just invoiced me a supplemental amount for handling the Leeds Building Society mortgage. Is this a supplemental conveyancing fee specified by Leeds Building Society?

Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your property lawyer may levy a fee for this. The fee is not dictated by Leeds Building Society but by your Aberystwyth conveyancing practitioner. Numerous firms on the Leeds Building Society panel will charge an ‘acting for lender’ fee and others do not.

I can not work out if my mortgage offer requires a lease extension. I have called into my local Aberystwyth building society branch on numerous occasions and was told they are content with the situation and they would lend. My Aberystwyth conveyancing solicitor - who is on the lender conveyancing panel- called and was told they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.

As long as the lawyer is on the bank panel, they must comply with the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

Aldermore have agreed my home loan in principle, my offer on a flat in Aberystwyth has been agreed to, now what?

The property agent will wish to know who your solicitors are (be sure the conveyancers are on the lender’s panel). Telephone Aldermore or your broker and complete any outstanding paperwork. Aldermore will sellect a valuer who will get in contact with the selling agent or seller to schedule a slot for the valuation to happen. Once carried out (assuming no problems) it takes on average a week to receive the mortgage offer. Aldermore will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Aberystwyth.

Planning to complete next month on a basement flat in Aberystwyth. Conveyancing lawyers assured me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Aberystwyth should include some of the following:

Does the lease prohibit wood flooring? Repair and maintenance of the flat You must be informed what is to be regarded as a Nuisance in the lease Ground rent - how much and when you need to pay, and be on notice if this will change in the future Your lawyers should enable you to have an understanding of the insurance obligations

I inherited a 1 bedroom flat in Aberystwyth, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Aberystwyth with an extended lease are worth £201,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 2089

With only 65 years remaining on your lease the likely cost is going to span between £13,300 and £15,400 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. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

We have chosen a Aberystwyth conveyancing solicitor for our house purchase (FTB’s) and have picked up in the engagement letter that they are not overseen by the FCA. Should I be worried or is that standard with conveyancer?

We can't see why they should be. Most lawyer don't lend money. They will be regulated by the Solicitors Regulation Authority, who have specific rules regulating amounts sitting on client account.