Is the fact that my solicitor in Swansea East is not listed on my lender's solicitor panel that there is a problem with the standard of the firm’s work?

It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Swansea East conveyancing firm and enquire why they are no longer on the approved list for your lender.

What does a local search tell me about the house my wife and I purchasing in Swansea East?

Swansea East conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations such as Xpress Legal The local search is essential in every Swansea East conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your new home. The search will provide information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.

Have purchased a a terraced house in Swansea East , What is the estimated time for the Land Registry to register my ownership? My Swansea East conveyancing solicitor works at snail pace, so I want to be certain the land registry aspects are addressed.

There is nothing unique about conveyancing in Swansea East registration formalities. As opposed to being determined by geographic area, timescales can differ according to the party submitting the application, whether there are errors and if the Land registry have to notify any third parties. Currently in the region of 80% of such applications are fully addressed in less than three weeks but some can be subject to extensive delays. Registration takes place once the new owner has moved in to the premises thus post completion formalities is not always top priority but where there is a degree of urgency associated with the registration then you or your conveyancer must contact the land registry and explain the circumstances.

I'm refinancing my existing house to a BTL mortgage with Clydesdale and I will use the ballance of the raised equity as a deposit on further property. The location we are talking about is Swansea East. Will your conveyancers be able to act for both sets of banks and tie in the two deals?

Make use of our search tool on this site to check that the conveyancers are approved by both lenders. On the basis that they are your conveyancer will be able to simultaneously deal with the two deals but you should talk with you lawyer and make apparent your desired outcome and needs.

I am looking at a two flats in Swansea East both have approximately fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Swansea East is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most purchasers and lenders, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Swansea East conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I invested in buying a 2 bed flat in Swansea East, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Swansea East with a long lease are worth £197,000. The ground rent is £55 per annum. The lease comes to an end on 21st October 2079

You have 54 years unexpired the likely cost is going to span between £32,300 and £37,400 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide 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 are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.