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

That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated 76% 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 solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Caldicot conveyancing practice and enquire why they are no longer on the approved list for your bank.

We see that you have a post code search directory identifying firms on the Aldermore conveyancing panel. Do firms pay you a commission if I appoint them for our own conveyancing in Caldicot?

We are a listing service only for law firms wishing to communicate if they are on the Aldermore conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Caldicot.

Should our solicitor be raising enquiries concerning flooding as part of the conveyancing in Caldicot.

The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Caldicot. Plenty of people will acquire a house in Caldicot, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.

Conveyancers are not best placed to offer advice on flood risk, however there are a various searches that may be initiated by the buyer or by their solicitors which will give them a better understanding of the risks in Caldicot. The conventional set of completed inquiry forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard question of the owner to find out whether the property has suffered from flooding. In the event that flooding has previously occurred which is not disclosed by the seller, then a buyer may commence a compensation claim stemming from an misleading response. A buyer’s conveyancers should also conduct an enviro report. This should higlight whether there is any known flood risk. If so, additional inquiries will need to be initiated.

I'm buying my first flat in Caldicot with the aid of help to buy. The developers would not reduce the amount so I negotiated £7000 of additionals instead. The estate agent advised me not inform my conveyancer about the extras as it may adversely affect my mortgage with Aldermore. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Are there common problems that you encounter in leases for Caldicot properties?

There is nothing unique about leasehold conveyancing in Caldicot. Most leases are individual and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

Service charge per centages that don't add up correctly leaving a shortfall

You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Skipton Building Society, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.

I inherited a ground floor flat in Caldicot, conveyancing formalities finalised June 2002. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Caldicot with an extended lease are worth £227,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2098

With just 72 years left to run the likely cost is going to be between £9,500 and £11,000 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.