All was ready to complete my purchase in Llanybydder next Friday. My conveyancing practitioner now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What does the insurance need to cover?

All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These obligations are not unique to conveyancing in Llanybydder.

I have recentlybecome aware that Stirling Law have been shut down. They conducted my conveyancing in Llanybydder for a purchase of a leasehold apartment 12 months ago. How can I check that the property is registered correctly in the name of the former proprietor?

The quickest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Llanybydder conveyancing specialists.

I'm purchasing my first flat in Llanybydder with a loan from Nationwide Building Society. The developers refused to budge the amount so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not inform my conveyancer about the side-deal as it could put at risk my mortgage with Nationwide Building Society. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

My brother has encouraged me to instruct his conveyancers in Llanybydder. Should I choose my own conveyancer?

There are no two ways about it the ideal way to choose a conveyancing lawyer is to have feedback from friends or family who have experience in using the solicitor that you are contemplating using.

Are there common defects that you witness in leases for Llanybydder properties?

Leasehold conveyancing in Llanybydder is not unique. Most leases are drafted differently and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

A provision to repair to or maintain elements of the property A provision for the recovery of money spent for the benefit of another party.

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Coventry Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

I inherited a basement flat in Llanybydder, conveyancing was carried out in 2001. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Llanybydder with over 90 years remaining are worth £181,000. The ground rent is £55 yearly. The lease finishes on 21st October 2075

With 51 years unexpired we estimate the price of your lease extension to be between £30,400 and £35,200 plus professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.