My wife and I are in the throws of looking at apartments in Ceredigion and I am about to put in an offer. Is it sensible to have a lawyer on ‘stand by’? I will be getting a home loan with Coventry BS.

It would be advisable to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are seeking a mortgage with Coventry BS, make sure you remember to check that your lawyer is on the Coventry BS conveyancing panel.

The formalities of my purchase has taken place for my property in Ceredigion. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?

Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.

Aldermore have agreed my home loan in principle, my bid on a flat in Ceredigion has been agreed to, what are the next steps?

The property agent will want to be informed of your conveyancing practitioner's details (make sure the solicitors are on the lender’s panel). Telephone Aldermore or the broker and finish off any relevant paperwork. Aldermore will sellect a valuer who will get in touch with the selling agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Aldermore will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Ceredigion.

How does conveyancing in Ceredigion differ for newly converted properties?

Most buyers of new build property in Ceredigion approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is built. This is because builders in Ceredigion tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ceredigion or who has acted in the same development.

I decided to have a survey carried out on a house in Ceredigion before retaining lawyers. I have been told that there is a flying freehold element to the house. Our surveyor advised that some banks tend not issue a loan on such a property.

It varies from the lender to lender. Lloyds has different requirements for example to Halifax. Should you wish to call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Ceredigion. Conveyancing may be slightly more expensive based on your lender's requirements.

What are the common deficiencies that you see in leases for Ceredigion properties?

There is nothing unique about leasehold conveyancing in Ceredigion. All leases are individual and legal mistakes in the legal wording can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

Service charge per centages that don't add up correctly leaving a shortfall Repairing obligations to or maintain parts of the property

You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Chelsea Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.

Ceredigion Leasehold Conveyancing - Sample of Questions you should consider before Purchasing

Is there a share of the freehold? Best to be warned if fixing the lift or some other significant cost is anticipated to be shared amongst the leasehold owners and could well materially impact the level of the service costs or require a one off invoice.

What can I expect to pay for conveyancing in Ceredigion?

Almost all Ceredigion conveyancing solicitors will agree to a fixed fee. Where further work become due during the conveyancing your solicitor should disclose to you in writing of any additional charges for any work immediately it becomes apparent. Some practices may agree not to charge a fee if the deal aborts, others will charge a percentage of the set costs, calculated based on the stage at which the matter falls through.

We would recommend that you seek two or three firms to supply you a quotation.