Over the last few months I have been searching for a flat up to £245,000 and found one close by in Y Felinheli I like with a park and transport links in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Y Felinheli in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?

If you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.

I have been recommended by numerous property agents in Y Felinheli to select a property lawyer on your site. Is there a financial advantage for Estate Agents to recommend your lawyers over and above alternative conveyancing organisations?

We don’t make any commission for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.

I have been sourcing a conveyancing lawyer in Y Felinheli for my sale. Is it possible to review a solicitor's complaints history with the profession’s regulator?

Anyone may read presented Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Go to Check a solicitor's record. For information Pre 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The regulator could recorded telephone calls for training purposes.

What makes a Y Felinheli lease defective?

Leasehold conveyancing in Y Felinheli is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain sections are wrong. The following missing provisions could result in a defective lease:

A provision to repair to or maintain parts of the property

You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Mortgage Works, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

I invested in buying a 1st floor flat in Y Felinheli, conveyancing having been completed in 2010. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Y Felinheli with over 90 years remaining are worth £201,000. The ground rent is £45 charged once a year. The lease runs out on 21st October 2091

With only 65 years remaining on your lease we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.

I am just shy of a 10% deposit on my apartment purchase in Y Felinheli , but I am anxious exchange. Do I have options?

You can agree a smaller deposit. Many property owners will accept a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.

You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment