My Fairbourne solicitor has identified an inconsistency between the information in the home valuation survey and what is in the legal papers for the property. My solicitor has advised that he is duty bound to check that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s course or action correct?

Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions 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.

Can you help - my lawyer says that flying freehold insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Fairbourne?

The right level of flying freehold indemnity insurance depends on your lender. It would differ for example between National Westminster Bank and Skipton Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.

We have agreed to purchase a house in Fairbourne. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Barclays be concerned?

Given that your lender is Barclays your lawyer must follow the conveyancing requirements set out in Section two of UK Finance Lenders’ Handbook for Barclays. The CML Handbook stipulates minimum conditions for solar panel roof-space leases, and solicitors are required to report to Barclays where a lease fails to meet these specifications. The conditions relate to the installation of panels on properties countrywide and is not limited to Fairbourne.

After much negotiation I have agreed a price on a house in Fairbourne. My financial adviser pressured me to appoint their property lawyer. I paid an advanced payment of £200. A couple of days later, the property lawyer called me embarrassingly acknowledging that they were not on the Leeds Building Society conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the Leeds Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

How does conveyancing in Fairbourne differ for newly converted properties?

Most buyers of new build or newly converted property in Fairbourne approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in Fairbourne usually purchase the real estate, 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 property lawyers 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 used to new build conveyancing in Fairbourne or who has acted in the same development.

Should I be suspicious that estate agents that I am dealing with are recommending a national conveyancing firm rather than a High Street Fairbourne conveyancing company?

As with lots of service providers, often recommendations from connections can be worth their weight in gold. But there are numerous parties with a vested interest in a conveyancing deal; estate agents, mortgage brokers and lenders might all put forward lawyers to appoint. On occasion these lawyers might be known to one of the organisations as experts in their field, but occasionally there is an underlying commercial relationship behind the endorsement. You have the discretion to select your own lawyer. You need to be aware that the majority of lenders operate an approved list of law firms you have to use for the lender aspect of your home move.

What are the frequently found problems that you encounter in leases for Fairbourne properties?

Leasehold conveyancing in Fairbourne is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

A provision to repair to or maintain elements of the building A duty to insure the building

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Barnsley Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

Fairbourne Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

It would be prudent to discover if there is anything that is prohibited in the lease. By way of example it is very common in Fairbourne leases that pets are not allowed in in a block in Fairbourne. If you love the apartmentin Fairbourne but your cat is not allowed to live with you then you will be faced hard decision. This information is useful as a) areas could cause problems in the building as the common areas may start to deteriorate if maintenance remain unpaid b) if the leaseholders have an issue with the managing agents you will wish to have all the details You should be aware that where the lease has less than 80 years it will impact the marketability of the property. Check with your mortgage company that they are happy with residual term of the lease. A short lease means that you will almost definitely need a lease extension at some point and you need to have some idea of what this will be. Remember, in most cases you would need to own the property for two years before you are legally able to extend the lease.