My lawyer has discovered a defect with the lease for the flat we are purchasing in Aberdovey. The seller’s lawyers have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our property lawyer says that he must be satisfied that the bank is willing to move forward with this solution. Are we the client or is the mortgage company ?

The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.

Do I select a Licenced Conveyancer or Solicitor for conveyancing in Aberdovey?

There are many registered licenced Conveyancers in Aberdovey and Solicitor partnerships in Aberdovey offering conveyancing We would stress that both are regulated professionals specialising in the legal work in transferring property. The two can deal with associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.

I just acquired a house at auction in Aberdovey. Conveyancing is needed. What are my next steps?

Given that you have now exchanged you will need to instruct a conveyancing solicitor as a matter of priority as you are faced with a fast approaching a drop dead date to complete the deal. An auction property should have a bespoke legal pack. This will include most,if not all of the documents that your conveyancer requires. In the case of leasehold premises the auction pack should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You need to hand this to the solicitor working for you ASAP. Do make sure that that you have the requisite funding in place to complete on the date specified in the contract.

Does a directory service exist listing Barclays panel solicitors in Aberdovey on the Building Society Association’s Website?

Unfortunately not yet. There is no such directory service on the CML or Building Society Association sites. A small selection of lending institutions make their panel listings available online. If you are looking for a Aberdovey solicitor on the Barclays please use our facility.

I am looking for a leasehold apartment up to £195,000 and identified one close by in Aberdovey I like with open areas and railway links in the vicinity, however it's only got 52 years on the lease. I can't really find anything else in Aberdovey in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?

Should you require a home loan that many years will be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.

As co-executor for the estate of my uncle I am selling a residence in Newport but live in Aberdovey. My conveyancer (approximately 235 miles awayhas requested that I execute a stat dec prior to completion. Can you recommend a conveyancing solicitor in Aberdovey to witness this legal document for me?

Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are based in Aberdovey

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Aberdovey. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Aberdovey ?

The majority of houses in Aberdovey are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Aberdovey so you should seriously consider looking for a Aberdovey conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your conveyancer should advise you fully on all the issues.

I acquired a leasehold flat in Aberdovey, conveyancing was carried out January 2006. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Aberdovey with an extended lease are worth £190,000. The ground rent is £45 per annum. The lease ends on 21st October 2087

With just 62 years left to run we estimate the premium for your lease extension to span between £17,100 and £19,800 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.