Me and my partner are intending to purchase a 1 bedroom apartment in Llanarmon Yn Ial with a mortgage. We would like to retain our Llanarmon Yn Ial lawyer, but the mortgage company advise he's not on their "panel". It appears that we have little option but to appoint one of the mortgage company panel conveyancing practices or keep our Llanarmon Yn Ial solicitor as well as pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?

Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Llanarmon Yn Ial conveyancing lawyer to apply to be on the conveyancing panel.

It is 10 years ago since I bought my home in Llanarmon Yn Ial. Conveyancing solicitors have recently been appointed on the sale but I can't find the deeds. Is this a major issue?

Don’t worry too much. First there is a chance that the deeds will be kept by your mortgage company or they could stored with the conveyancers who oversaw the purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. The vast majority of conveyancing in Llanarmon Yn Ial relates to registered property but in the unlikely event that your property is unregistered it is more of a problem but is resolvable.

we are a couple who decided to purchase a 2 bedroom apartment in Llanarmon Yn Ial with a homeloan from The Royal Bank of Scotland.We would like to retain our Llanarmon Yn Ial conveyancing lawyer but The Royal Bank of Scotland says she’s not listed on their "panel". we are left little option but to use a The Royal Bank of Scotland panel solicitor or retain our high street solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that The Royal Bank of Scotland use our lawyer?

Unfortunately,no. The loan offered to you is subject to its terms and conditions, a common one being that solicitors will be on the The Royal Bank of Scotland solicitor panel. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for The Royal Bank of Scotland

I have been on the look out for a leasehold apartment up to £235,500 and found one near me in Llanarmon Yn Ial I like with a park and railway links nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Llanarmon Yn Ial suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?

Should you need a mortgage that many years will likely be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.

I am a negotiator for a reputable estate agent office in Llanarmon Yn Ial where we have experienced a few flat sales derailed as a result of short leases. I have received conflicting advice from local Llanarmon Yn Ial conveyancing solicitors. Please can you clarify whether the vendor of a flat can commence the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

I acquired a leasehold flat in Llanarmon Yn Ial, conveyancing was carried out July 2005. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Llanarmon Yn Ial with a long lease are worth £222,000. The ground rent is £50 per annum. The lease finishes on 21st October 2097

With only 71 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.