I am selling my house in Risca and the EA has just called to advise that the purchasers are changing their solicitor. I am told that this is due to the fact that the bank will only engage with property lawyers on their approved list. Why would a big named lender only engage with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Risca ?

Mortgage companies have always had panels of law firms that can act for them, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.

Mortgage companies blame a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.

Our solicitor has identified a defect with the lease for the flat we are purchasing in Risca. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will cover the costs. Our property lawyer says that he must check that the lender is willing to move forward with this solution. Who is the client here, us or the bank?

Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the mortgage company are the client. These conveyancing instructions have to be complied with.

I can see plenty of here about conveyancing in Risca but what is your top tip for selecting the right conveyancer in Risca

We would encourage you not to base your choice on the lowest Risca conveyancing costs illustration. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.

I am assisting my sister sell her flat in Risca. Does the solicitor order an EPC or do I organise this?

Following the abolition of HIPs, EPC’s remained a mandatory element of moving property. An energy performance certificate needs to be commissioned before the property is advertised. It is not something that law firms ordinarily organise. If you are instructing a Risca conveyancing solicitor they might be willing to arrange EPC’s given their contacts with long established Risca accredited person

Can I be sure that the Risca conveyancing solicitor on the Leeds Building Society panel is any good?

When it comes to conveyancing in Risca getting 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 advertising the lowest fees. We would always advise that you speak with the solicitor carrying out your conveyancing.

I require quick conveyancing in Risca as I am faced with an ultimatum to complete within 4 weeks. A mortgage is not required. Can I decline from having conveyancing searches to save fees and time?

As you are are a mortgage free purchaser you are at free not to have searches conducted although no law firm would advise that you don't. With lots of history conveyancing in Risca the following are instances of issues that can arise and therefore impact the marketability of the property: Refused Planning Applications, Outstanding Charges, Overdue Grants, Railway Schemes,...

I am looking at a two apartments in Risca both have in the region of 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Risca is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of buyers and banks, leases with under eighty 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 a property 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 Risca 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. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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 invested in buying a basement flat in Risca, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Risca with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease terminates on 21st October 2079

With only 56 years remaining on your lease we estimate the price of your lease extension to span between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.