I am progressing with the sale of my apartment in Risca and the EA has just called to advise that the purchasers are swapping property lawyer. The reason given is that the bank will only work with property lawyers on their conveyancing panel. On what basis would a leading lender only work with specific law firms rather the firm that they want to appoint for their conveyancing in Risca ?

UK lenders have always had panels of law firms that can act for them, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.

Banks point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.

How up to date is your database of Risca solicitors on the conveyancing panel? Do send you an updated list?

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

I purchased a 4 bedroom Victorian property in Risca. Conveyancing solicitor represented me and . I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold with the matching address. I'd like to know for sure, how can I find out??

You need to review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Risca and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing practitioner who conducted the conveyancing.

Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Risca is where the house is located. Can you shed any light on this issue?

Flying freeholds in Risca are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Risca you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Risca may ascertain 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 residence.

Risca Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing

It is important to be aware whether redecorating or some other significant cost is pending that will be shared by the leaseholders and will materially increase the the maintenance fees or require a one time invoice. This question is important as a) areas could cause problems in the building as the communal areas may start to deteriorate where repairs remain unpaid b) if the leasehold owners have an issue with the running of the building you will need to know about it Most Risca leasehold flats will incur a service charge for maintenance of the building invoiced by the management company. If you buy the apartment you will have to pay this amount, normally periodically during the year. This could be anything from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. In all probability there will be a rentcharge to be met yearly, normally this is not a significant amount, say approximately £50-£100 but you should to check it because on occasion it can be surprisingly expensive.