three months have gone by since my purchase conveyancing in Vale Of Glamorgan completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

About to purchase a new build apartment in Vale Of Glamorgan. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Vale Of Glamorgan

There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.

Due to the advice of my in-laws I had a survey completed on a house in Vale Of Glamorgan prior to appointing conveyancers. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some banks will not grant a loan on such a home.

It varies from the lender to lender. HSBC has different requirements for example to Nationwide. Should you wish to call us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Vale Of Glamorgan. Conveyancing may be slightly more expensive based on your lender's requirements.

I am tempted by the attractive purchase price for a couple of apartments in Vale Of Glamorgan which have approximately fifty years left on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Vale Of Glamorgan is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of purchasers and mortgage companies, leases with under 75 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 residence 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 Vale Of Glamorgan conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 the agreed 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 studio flat in Vale Of Glamorgan, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Vale Of Glamorgan with over 90 years remaining are worth £180,000. The ground rent is £65 invoiced every year. The lease runs out on 21st October 2085

With just 59 years remaining on your lease we estimate the price of your lease extension to be between £20,900 and £24,200 plus legals.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.

Your search tool is useful but there are many lawyers listed near Vale Of Glamorgan being on the mortgage company conveyancing panel. Can you recommend a specific firm on the bank approved panel?

We are not in the business of recommending one firm above another as the right Vale Of Glamorgan conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Vale Of Glamorgan knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..