I can't travel far from Trefnant. Can you please clarify why all Trefnant solicitors aren't included on all lender panels?

As unjust as it may appear for mortgage companies to limit who can represent them, from the public’s or conveyancer’s perspective, the the contrary view is that banks are becoming ever more anxious and regard it imperative to protect them against mortgage fraud. As a result of this concern banks have consolidated their conveyancing panel to a manageable size.

We are planning to acquire a flat and need a conveyancing solicitor in Trefnant who is on the RBS conveyancing panel. Can you recommend a local solicitor?

Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for RBS . We don't recommend any particular firms conducting conveyancing in Trefnant.

Are the BSA intent on creating a searchable register to list solicitors on the Darlington Building Society conveyancing panel for example in Trefnant?

We have not been informed any plans on the part of the BSA to develop such a tool.

My husband and I are novice buyers - agreed a price, but the agent advised that the vendor will only move forward if we use their preferred lawyers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Trefnant

We suspect that the seller is unaware of this demand. If they desire ‘a quick sale', taking such a hostile approach to a serious buyer is going to damage their objectives. Speak to the owners direct and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you will continue to use your preferred Trefnant conveyancing firm - rather thanthe ones that will give the negotiator at the agency a kickback or meet his conveyancing figures demanded by HQ.

I am tempted by the attractive purchase price for a two flats in Trefnant which have in the region of 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Trefnant is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the value of the property. For most purchasers and mortgage companies, leases with less than eighty years become less and less attractive. 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 Trefnant conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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.

Trefnant Leasehold Conveyancing - A selection of Queries before Purchasing

The prefered form of lease arrangement is where the freehold title is in the ownership of the leaseholders. In this situation the lessees have being in charge if their destiny and notwithstanding that a managing agent is often retained if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. In the main the outlay for major works are not included within maintenance charges, albeit that a few managing agents in Trefnant require leaseholders to pay into a sinking fund and this is used to offset against major works. Who is in charge of the block?