All was ready to complete my purchase in Pencoed next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What risks does the lender expect the insurance to cover?

All property lawyers on acting for mortgage companies 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 UK Finance Lenders’ Handbook conditions. These obligations are not specific to conveyancing in Pencoed.

We are buying a property in Pencoed. I might seem paranoid but how we can trust a lawyer? At some point we have to send funds into their account. What protection do we have from them run away with our money?

Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.

How can we know in advance if a Pencoed conveyancing solicitor on the Nottingham panel is any good?

When it comes to conveyancing in Pencoed obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor handling your conveyancing.

I have paid off my mortgage with Virgin Money. I assume I don't need a Pencoed solicitor on the Virgin Money panel to remove the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Virgin Money has sent the Land Registry the discharge electronically, and
3. Virgin Money has instructed the Land Registry to do so

four months have elapsed following my purchase conveyancing in Pencoed 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 residence 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.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £400,000 garden flat in Pencoed next week. The management company has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Pencoed?

Pencoed conveyancing on leasehold flats often necessitates the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They are entitled to charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality one has no choice but to pay whatever is demanded should you wish to sell the property.

I inherited a 1st floor flat in Pencoed, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Pencoed with over 90 years remaining are worth £171,000. The ground rent is £50 charged once a year. The lease expires on 21st October 2102

With 79 years unexpired the likely cost is going to span between £8,600 and £9,800 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

Am in the process of purchasing my first property in Pencoed. Conveyancing solicitor already chosen. The mortgage adviser pointed out that a survey is not appropriate as the house was only constructed in 1997.

At the very least you should order a Home Buyer's Report. As the residence was constructed more than a decade ago the property will be without a warranty, so you would be well advised not to take a risk. Where a property of this age shows no signs of problems a Home Buyer's report may be sufficient. They will highlight any apparent issues and recommend further investigation if appropriate. Where there are any indications of material issues seek a comprehensive structural survey.