My husband and I are planning to buy a property in Glan Conwy and have appointed a Glan Conwy conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Nationwide Building Society have this morning contacted us to advise us that they have now hit a problem as our Glan Conwy conveyancer is not on their approved list of lawyers. What do we do from here?

When purchasing a property with mortgage finance 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 Quality Scheme. Your property lawyer should contact your lender 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 don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Glan Conwy lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.

Is there a reason why leasehold purchase conveyancing in Glan Conwy costs more?

Glan Conwy leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.

I opted to have a survey done on a house in Glan Conwy prior to instructing lawyers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some banks will refuse to issue a loan on this type of home.

It varies from the lender to lender. Lloyds has different requirements for example to Halifax. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Glan Conwy. Conveyancing may be slightly more expensive based on your lender's requirements.

I am downsizing from my house. My former solicitors closed down. I would be grateful for any recommendation of a conveyancing firm. Im based in Glan Conwy if that makes things easier.

Do use our search tool to help you choose a solicitor for your conveyancing in Glan Conwy. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.

Do you have any top tips for leasehold conveyancing in Glan Conwy with the intention of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Glan Conwy can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the buyers’ representatives.
The majority of landlords or managing agents in Glan Conwy levy fees for supplying management packs for a leasehold home. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Glan Conwy. If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved. If you hold a share in a the freehold, you should make sure that you hold the original share document. Obtaining a re-issued share certificate can be a lengthy formality and frustrates many a Glan Conwy conveyancing transaction. If a duplicate share is necessary, you should approach the company officers or managing agents (if relevant) for this as soon as possible.

I own a ground floor flat in Glan Conwy, conveyancing formalities finalised March 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Glan Conwy with a long lease are worth £180,000. The ground rent is £65 levied per year. The lease comes to an end on 21st October 2083

You have 58 years left to run we estimate the premium for your lease extension to range between £21,900 and £25,200 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.