My wife and I are purchasing a new build flat in Morfa Nefyn and my solicitor is telling me that she has to the lender to reveal incentives from the builder. I am on a tight deadline to exchange contracts and I don't want to prolong deal. is my lawyer playing by the book?

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

Can you help - my lawyer says that lack of building regulations insurance is required on my purchase. What is the level of cover for Morfa Nefyn conveyancing?

The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between Santander and Barnsley Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.

We are getting the release of further funds on our home loan from UBS as we intend to conduct renovations to our home in Morfa Nefyn. Do we need to appoint a local Morfa Nefyn solicitor on the UBS conveyancing panel to handle the paperwork?

UBS do not ordinarily require a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS panel.

I recently had an offer accepted on an apartment in Morfa Nefyn. My financial adviser pressured me to appoint their conveyancer. I paid an on account payment of £225. Not long after, the conveyancing practitioner called me sheepishly admitting that they were not on the Leeds Building Society conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the Leeds Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

Will my solicitor be asking questions concerning flooding as part of the conveyancing in Morfa Nefyn.

The risk of flooding is if increasing concern for solicitors dealing with homes in Morfa Nefyn. Some people will buy a house in Morfa Nefyn, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.

Lawyers are not qualified to impart advice on flood risk, but there are a numerous checks that can be carried out by the buyer or on a buyer’s behalf which can give them a better understanding of the risks in Morfa Nefyn. The standard information given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the owner to discover if the property has suffered from flooding. If the premises has been flooded in past which is not revealed by the seller, then a purchaser may issue a compensation claim as a result of such an misleading answer. The buyer’s lawyers may also order an enviro search. This will indicate if there is any known flood risk. If so, additional investigations should be made.

It has been 4 months following my purchase conveyancing in Morfa Nefyn completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. 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 asset 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.

I opted to have a survey done on a property in Morfa Nefyn before instructing lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor has said that some lenders tend not grant a mortgage on this type of property.

It varies from the lender to lender. HSBC has different requirements from Halifax. If you call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Morfa Nefyn. Conveyancing may be slightly more expensive based on your lender's requirements.