We are purchasing our first house. The property lawyer has contact usto check if we wish to order additional conveyancing searches. We are really unsure what's appropriate for conveyancing in Hay On Wye

The scope of Hay On Wye conveyancing searches depends entirely on the property, the location, the likelihood of any of these risks, your knowledge of the locality and risks, your general approach to risk. What is important is that you properly comprehend what information each search could provide. Then you can decide if you consider that you need that information. Where you are unsure, ask the property lawyer to explain.

It has been five months following my purchase conveyancing in Hay On Wye concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Due to the encouragement of my in-laws I had a survey completed on a house in Hay On Wye ahead of appointing solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some banks will refuse to grant a mortgage on a flying freehold home.

It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. If you call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hay On Wye. Conveyancing may be slightly more expensive based on your lender's requirements.

My partner has urged me to appoint his lawyers for conveyancing in Hay On Wye. Should I find my own conveyancer?

There are no two ways about it it’s preferable to choose a conveyancing solicitor is to have feedback from friends or family who have experience in using the solicitor you're considering.

I am a negotiator for a reputable estate agency in Hay On Wye where we see a few flat sales put at risk as a result of short leases. I have received inconsistent advice from local Hay On Wye conveyancing solicitors. Please can you confirm whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner 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 proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.

I acquired a split level flat in Hay On Wye, conveyancing having been completed in 2011. How much will my lease extension cost? Equivalent properties in Hay On Wye with a long lease are worth £202,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease comes to an end on 21st October 2082

With only 57 years left to run the likely cost is going to be between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously 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.