Please help. My Reynoldston conveyancer is informing me me that he is legally obliged toconduct Reynoldston conveyancing searches stemming from the fact thatthe firm are on the Nat Westapproved lawyer panel. Is my lawyer right?

Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with a lender your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Reynoldston conveyancing searches.

I have justbecome aware that Action Conveyancing have closed. They conducted my conveyancing in Reynoldston for a purchase of a leasehold flat 10 months ago. How can I check that the property is in my name in the name of the former proprietor?

The easiest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Reynoldston conveyancing specialists.

About to purchase a new build flat in Reynoldston. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Reynoldston

Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are surveyor prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.

I am looking at a couple of apartments in Reynoldston both have in the region of forty five years left on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Reynoldston is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of buyers and mortgage companies, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Reynoldston conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I purchased a leasehold flat in Reynoldston, conveyancing formalities finalised in 1998. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Reynoldston with an extended lease are worth £197,000. The ground rent is £55 levied per year. The lease expires on 21st October 2080

With just 55 years unexpired we estimate the price of your lease extension to be between £31,400 and £36,200 plus legals.

The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.

My partner is purchasing a studio flat in Reynoldston. He has received a fee estimate by the lawyer connected to the estate agents totaling £1275 . It was 7 years ago I sold and bought a house and the fee was £450. Have fees really gone up that much?

What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Reynoldston searches, land registry fees, etc)