Am I correct in assuming that the fact that my conveyancer in Penylan is not identified on my mortgage company's conveyancing panel that there is a problem with the quality of his conveyancing?

That would most likely be an incorrect assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Penylan conveyancing firm and enquire why they are no longer on the approved list for your bank.

How does conveyancing in Penylan differ for new build properties?

Most buyers of new build premises in Penylan contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Penylan tend to acquire 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 conveyancing solicitors 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 Penylan or who has acted in the same development.

I am looking for a ground for flat up to £195,000 and found one close by in Penylan I like with a park and transport links nearby, the downside is that it only has 61 years on the lease. There is not much else in Penylan for this price, so just wondered if I would be making a grave error purchasing a short lease?

If you require a mortgage the remaining unexpired lease term may be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.

I own a leasehold house in Penylan. Conveyancing and Nationwide Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Penylan who previously acted has now retired. Do I pay?

First make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Penylan conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Penylan Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying

You should be aware that where the lease has no more than eighty years it will affect the marketability of the flat. It is worth checking with your mortgage company that they are content with remaining years on the lease. A short lease means that you will probably have to extend the lease sooner rather than later and you need to have some idea of what this would cost. For most Penylanlease extensions you would need to own the property for 24 months before you are legally able to extend the lease. It would be sensible to find out if there are any onerous prohibitions in the lease. By way of example it is fairly common in Penylan leases that pets are not permitted in in a block in Penylan. If you love the propertyin Penylan however your dog can’t move with you then you will be presented with a hard decision. Are there any major works anticipated that could add a premium to the maintenance fees?

Are all Penylan law firms on every bank conveyancing panel?

The Lexsure search tool on this page may be of use or you can pop into your high street bank branch in Penylan. Chances are that they will know some good conveyancing solicitors in Penylan