We are purchasing a newly built apartment in Llanfairfechan and my lawyer is telling me that she has to the mortgage company to reveal incentives from the developer. I am on a tight deadline to exchange and my preference is not to delay matters. is my lawyer playing by the book?

You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.

Various internet forums that I have visited warn that are the main reason for obstruction in Llanfairfechan house deals. Is that correct?

The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Llanfairfechan.

I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Llanfairfechan I like with open areas and transport links nearby, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Llanfairfechan in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?

If you require a home loan that many years will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.

I am looking into buying my first house which is in Llanfairfechan and I am already nervous. I couldn't find anything specific about Llanfairfechan. Conveyancing will be needed in due course but do you know about the Llanfairfechan area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Llanfairfechan. In the meantime here are some basic statistics that we found

Can you offer any advice when it comes to choosing a Llanfairfechan conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Llanfairfechan conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Llanfairfechan conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:

Can they put you in touch with clients in Llanfairfechan who can give a testimonial? How experienced is the practice with lease extension legislation?

I own a basement flat in Llanfairfechan, conveyancing formalities finalised in 2000. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Llanfairfechan with a long lease are worth £260,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2100

With only 75 years left to run the likely cost is going to be between £8,600 and £9,800 plus legals.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. 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. You should not move forward based on this information before getting professional advice.