Please explain the implications if my solicitor is expelled from the Principality Solicitor panel ahead of completing my conveyancing in Box?

First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.

I am buying a new build house in Box with a loan from Accord Mortgages Ltd. The builders refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The property agent told me not to tell my solicitor about this extras as it may put at risk my mortgage with the bank. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I opted to have a survey done on a house in Box ahead of instructing solicitors. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies will refuse to give a loan on such a property.

It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. Should you wish to call us we can look into this further with 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 Box. Conveyancing will be smoother if you use a solicitor in Box especially if they are accustomed to such properties in Box.

I work for a long established estate agent office in Box where we have experienced a few leasehold sales derailed due to short leases. I have been given inconsistent advice from local Box conveyancing firms. Please can you clarify whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start 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 agree the lease extension with the freeholder 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.

Box Conveyancing for Leasehold Flats - A selection of Queries before Purchasing

Is there a share of the freehold? The majority of Box leasehold flats will be liable to pay a service bill for maintenance of the building invoiced by the landlord. Where you buy the apartment you will have to pay this contribution, normally quarterly accross the year. This can be anything from several hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge for you to pay annual, this is usually not a exorbitant amount, say approximately £50-£100 but you need to check as occasionally it could be many hundreds of pounds. This question is useful as a) areas may result in problems in the block as the communal areas may start to deteriorate if maintenance are not paid for b) if the leasehold owners have a dispute with the running of the building you will wish to have full disclosure

How and when do I incur stamp duty chargeable for my conveyancing in Box?

The majority of property lawyers tend to complete a stamp duty return for you during your Box purchase transaction for signature. After completion your lawyer will submit the Land Transaction Return Form to the Tax Authorities and - as long as they have the funds - settle any land tax liability for you.