I have been told that property searches are the main cause of hinderance in Pensysarn house deals. Is there any truth in this?

The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Pensysarn.

How does conveyancing in Pensysarn differ for new build properties?

Most buyers of new build premises in Pensysarn approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Pensysarn typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Pensysarn or who has acted in the same development.

I opted to have a survey carried out on a house in Pensysarn in advance of instructing lawyers. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some lenders will refuse to grant a mortgage on a flying freehold property.

It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. If you e-mail us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Pensysarn. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Pensysarn to see if the conveyancing costs will increase in light of this.

Taking into account that I will soon spend £400,000 on 3 bedroom house in Pensysarn I would like to have a conversation with the solicitor concerning thetransaction in advance of appointing the firm. Is this something that you can arrange?

Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor due to be doing your conveyancing in Pensysarn.There is no ‘factory style conveyancing’ - every client is an important person, not a matter number. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Pensysarn should be the figure that you end up paying.

Planning to exchange soon on a studio apartment in Pensysarn. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Pensysarn should include some of the following:

What the implications are if you breach a clause of your lease? You should have a good understanding of the insurance requirements Does the lease prohibit wood flooring? specifics of the parties to the lease, e.g. these could be the tennant, superior lessor, freeholder Will you be prohibited or prevented from having pets in the property?

I bought a 2 bed flat in Pensysarn, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Pensysarn with a long lease are worth £197,000. The ground rent is £55 per annum. The lease expires on 21st October 2080

You have 55 years remaining on your lease we estimate the premium for your lease extension to range between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other 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 seeking the advice of a professional.