I have just started taking steps with a view to transferring my existing standard mortgage to a Buy to Let Lloyds TSB Bank mortgage. I have been informed by my broker that I must appoint a lawyer as part of the process. I had a chat my previous Penrhyn Bay conveyancing solicitor who who did the conveyancing when I originally bought the property. The fee estimate they've given of £470 is an eye-watering amount to do this as its a remortgage than a sale or purchase.

The estimate does seem a tad overpriced. If you you were to look around you may be able to reduce the fees slightly by perhaps £100 plus VAT. On the other hand, if you were happy with the conveyancing the firm offered you maylive to rue opting for an a cheaper lawyer. Remember to ensure the conveyancer can act for Lloyds TSB Bank. You can use our search tool to get a quote a Penrhyn Bay conveyancing firm on the Lloyds TSB Bank approved list of lawyers, which can often include conveyancing solicitors in Penrhyn Bay.

Are the Penrhyn Bay conveyancing solicitors identified as being on the Kent Reliance conveyancing panel, together with their details provided by Kent Reliance?

Penrhyn Bay conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.

I'm buying my first flat in Penrhyn Bay with the aid of help to buy. The builders would not reduce the amount so I negotiated £7000 of additionals instead. The property agent advised me not reveal to my solicitor about this extras as it would affect my mortgage with the lender. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the developer 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.

Due to the encouragement of my in-laws I had a survey completed on a house in Penrhyn Bay in advance of retaining conveyancers. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some lenders tend not issue a loan on a flying freehold house.

It depends who your proposed lender is. Lloyds has different instructions from Nationwide. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Penrhyn Bay. Conveyancing may be slightly more expensive based on your lender's requirements.

I am attracted to a two apartments in Penrhyn Bay both have in the region of 50 years unexpired on the lease term. Do I need to be concerned?

There are plenty of short leases in Penrhyn Bay. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field.

I invested in buying a garden flat in Penrhyn Bay, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Penrhyn Bay with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 levied per year. The lease terminates on 21st October 2080

With only 55 years left to run the likely cost is going to be between £31,400 and £36,200 as well as costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.