I am obtaining a mortgage offer from Nat West. I would like to employ the services of a Licensed Conveyancer in Powys. Does the Nat West Solicitor panel include Licensed Conveyancers?

The Nat West approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.

I am hoping to complete my purchase in Powys next Thursday. 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 bank. What risks does the mortgage company 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 instructions. These obligations are not limited to conveyancing in Powys.

This question may be naive but I am wet behind the ears as FTB of a two bedroom flat in Powys. Do I pick up the keys to the premises on completion from my lawyer? If so, I will find a local conveyancing solicitor in Powys?

There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the owner’s solicitors, and once they have received this, you will be able to collect the keys from the Estate Agents and move into your new home. Usually this happens between 1 and 3pm.

How can we tell if a Powys conveyancing solicitor on the Virgin Money panel is any good?

When it comes to conveyancing in Powys obtaining recommendations is a sensible 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 advocate that you speak with the solicitor conducting your transaction.

I've digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Powys solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?

Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Powys surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.

Despite weeks of looking the Title Certificate and documents to our house can not be found. The conveyancers who handled the conveyancing in Powys 10 years ago have long since closed. What are my next steps?

Nowadays there are duplicates made of almost everything, and your conveyancer will know precisely where to locate all the relevant documentation so you may buy or sell your property without a hitch. Where duplicates can’t be located, your lawyer may be able to arrange cover in the form of insurance or indemnities protecting you against future claims on your premises.

I am employed by a busy estate agency in Powys where we have experienced a few flat sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Powys conveyancing solicitors. Can you shed some light as to whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

I invested in buying a 2 bed flat in Powys, conveyancing formalities finalised June 1997. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Powys with an extended lease are worth £227,000. The ground rent is £50 invoiced annually. The lease terminates on 21st October 2098

With only 72 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.