Can you explain why leasehold purchase conveyancing in Newport costs more?

The conveyancing costs on a leasehold property in Newport is inevitably more expensive as compared to a freehold property. This is due to the extra work required in communicating with the landlord and managing agents to collate the information concerning whether the rent and maintenance charges have been discharged and whether there are any significant expenditure in the near future on repairs or maintenance of the block.

Does a directory service exist listing Nationwide panel conveyancers in Newport on the Council of Mortgage Lender’s Website?

No. There is no such directory service on the CML or Building Society Association sites. Very few lending institutions make their panel listings viewable online. If you are in need of a Newport conveyancer on the Nationwide please make the most of our facility.

I have today made my last payment due on my mortgage with Nottingham. I assume I don't need a Newport property lawyer on the Nottingham panel to remove the mortgage at the Land Registry. Am I right?

If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Nottingham has sent the Land Registry the discharge electronically, and
3. Nottingham has instructed the Land Registry to do so

After shopping around on the internet I have found a Newport solicitor having made sure that they are on the TSB conveyancing panel. Does my lawyer arrange the survey of the property?

TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Newport surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.

Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a straight forward, no chain conveyancing. Newport is where the house is located. Is there any guidance you can give?

Flying freeholds in Newport are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Newport you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Newport may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

I have just appointed agents to market my 2 bed apartment in Newport. Conveyancing lawyers have not yet been instructed, but I have recently received a quarterly service charge invoice – what should I do?

It best that you clear the service charge as usual because all ground rent and service charges should be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I purchased a basement flat in Newport, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Newport with over 90 years remaining are worth £211,000. The ground rent is £45 invoiced every year. The lease ends on 21st October 2094

With just 68 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 plus costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.

Do I have to attend the offices of the mortgage company conveyancing panel solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Newport so that I can attend their offices if required.

As opposed to twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Newport.