I am progressing with the sale of my house in Carmarthen and the estate agent has just telephoned to advise that the purchasers are switching property lawyer. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their approved list. On what basis would a big named mortgage company only work with certain law firms rather the firm that they want to select to handle their conveyancing in Carmarthen ?

UK lenders have always had an approved set of law firms that can act for them, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.

Lenders point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.

I decided to have a survey done on a house in Carmarthen prior to appointing solicitors. I have been told that there is a flying freehold element to the property. The surveyor advised that some lenders tend not grant a mortgage on such a premises.

It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Carmarthen. Conveyancing may be slightly more expensive based on your lender's requirements.

I am looking for a conveyancing practitioner in Carmarthen for my house move. Can I review a firm’s complaints history with the legal regulator?

One can search for published Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The SRA sometimes recorded call for training reasons.

In relation to leasehold conveyancing in Carmarthen what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Carmarthen. All leases are drafted differently and legal mistakes in the legal wording can result in certain provisions are not included. The following missing provisions could result in a defective lease:

Maintenance charge proportions which don’t add up to the correct percentage A provision for the recovery of money spent for the benefit of another party.

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Norwich and Peterborough Building Society, and TSB all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

I invested in buying a leasehold flat in Carmarthen, conveyancing was carried out in 2009. How much will my lease extension cost? Similar flats in Carmarthen with over 90 years remaining are worth £202,000. The ground rent is £60 invoiced every year. The lease finishes on 21st October 2077

With only 57 years unexpired we estimate the price of your lease extension to be between £28,500 and £33,000 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

Is there a distinction between surveying and conveyancing in Carmarthen?

Conveyancing - in Carmarthen or anywhere in England and Wales - is the legal term given to transferring legal title of property from one person to another. It therefore includes the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re buying and will help you find out about the condition of the building and, if there are problems, give you a powerful reason for reducing the price down or asking the vendor to fix the problems prior to you move in.