What happens if my lawyer’s firm is expelled from the Clydesdale Conveyancing panel ahead of completing my conveyancing in Llanallgo?

The first thing to point out is that, this is a very rare occurrence. 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 for a fee.

I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Llanallgo is the location of the property. Is there any advice you can impart?

Flying freeholds in Llanallgo are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Llanallgo you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Llanallgo may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

I'm refinancing my primary property to a BTL loan with Platform Home Loans Ltd and I will use the ballance of the raised equity as a down payment on another house. The area we are interested in is Llanallgo. Will your lawyers be able to act for both sets of lenders and tie in the two deals?

Make use of our comparison tool on this site to be sure that the lawyers are approved by both lenders. Having checked that they are the solicitor should be able to tie up the two transactions but you should talk with you conveyancer and communicate your desired outcome and needs.

We're new on the property ladder - had an offer accepted, yet the property agent advised that the seller will only go ahead if we appoint the agent's chosen conveyancers as they want a ‘quick sale’. My instinct tells me that we should use a family conveyancer who is accustomed to conveyancing in Llanallgo

We suspect that the owner is not behind this requirement. If they desire ‘a quick sale', taking such a hostile approach to a serious buyer is counter productive. Try to communicate with the sellers directly and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)however you will continue to instruct your preferred Llanallgo conveyancing firm - not the ones that will earn the estate agent a commission or meet his conveyancing targets demanded by senior management.

I am attracted to a couple of maisonettes in Llanallgo both have approximately 50 years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Llanallgo is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. The majority of buyers and lenders, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Llanallgo conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I own a basement flat in Llanallgo, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Llanallgo with over 90 years remaining are worth £195,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2088

You have 63 years remaining on your lease the likely cost is going to span between £16,200 and £18,600 as well as legals.

The figure 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 detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.