Our conveyancer has discovered a a problem with the lease for the apartment we are purchasing in Reynoldston. The other side have offered defective title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor says that he must be satisfied that the bank is happy with this solution. Are we the client or is the bank?

The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.

My wife and I own a 4 bedroom Georgian property in Reynoldston. Conveyancing practitioner acted for me and Aldermore. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold under the matching address. Is it worth asking Aldermore to clarify?

You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Reynoldston and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing lawyer who completed the work.

Due to the encouragement of my in-laws I had a survey completed on a house in Reynoldston ahead of instructing lawyers. I have been told that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies tend refuse to grant a mortgage on such a premises.

It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. If you contact us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Reynoldston. Conveyancing will be smoother if you use a solicitor in Reynoldston especially if they are accustomed to such properties in Reynoldston.

I am looking at a couple of maisonettes in Reynoldston which have approximately forty five years left on the lease term. Do I need to be concerned?

There are plenty of short leases in Reynoldston. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorates and results in it becoming more costly to extend the lease. For this reason it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field.

I own a basement flat in Reynoldston, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Reynoldston with an extended lease are worth £202,000. The ground rent is £60 yearly. The lease ceases on 21st October 2081

You have 56 years remaining on your lease we estimate the premium for your lease extension to range between £29,500 and £34,000 plus 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 in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.

Is planning consent required to convert a single dwelling into two flats in Reynoldston? This has been done to a house adjacent to my home in Reynoldston and was unaware of it happening until the works were finished.

Planning consent is required for splitting a single dwelling in Reynoldston into apartments but possibly not for converting once again to single dwelling-house so, in answer to your question, yes.