Our Carmarthen solicitor has spotted an inconsistency when comparing the assumptions in the home valuation report and what is in the legal papers for the property. My solicitor informs me that he must ensure that the bank is with this discrepancy and is still content to lend. Is my conveyancer’s stance legitimate?

Your must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.

I have been told that property searches are the primary cause of delay in Carmarthen house deals. Is that correct?

The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays in the conveyancing process. Searches are not likely to be the root cause of delay in conveyancing in Carmarthen.

I am buying my first flat in Carmarthen benefiting from help to buy. The builders refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not reveal to my conveyancer about the side-deal as it will put at risk my loan with . Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I have recently realised that I have Seventy years remaining on my lease in Carmarthen. I need to extend my lease but my freeholder is can not be found. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have used your best endeavours to track down the landlord. In some cases a specialist should be helpful to carry out a search and prepare a report which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court covering Carmarthen.

I invested in buying a studio flat in Carmarthen, conveyancing was carried out 1995. Can you work out an approximate cost of a lease extension? Equivalent properties in Carmarthen with a long lease are worth £165,000. The ground rent is £45 yearly. The lease expires on 21st October 50

With 50 years remaining on your lease we estimate the price of your lease extension to be between £36,100 and £41,800 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

My wife and I hope to purchase our first home in Carmarthen. Conveyancing lawyer already instructed. The broker suggested that a survey is not appropriate as the property was only built in 2002.

At the very least you should order a Home Buyer's Report. As the residence was constructed over a decade ago the property will not benefit from a warranty, so you would be well advised not to take a risk. For a property that age with no signs of problems a Home Buyer's report may be sufficient. They will highlight any obvious problems and suggest additional investigation where appropriate. If there are any signs of material issues obtain a full Building Survey from the beginning.