My husband and I are nearing an exchange on a flat in Machynlleth and my parents have transferred the ten percent deposit to my property lawyer. I am now advised that as the deposit has been received from someone other than me my conveyancer needs to make a notification to my lender. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I disclosed to the lender regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?

Your lawyer is obliged to check with lender to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.

My flat in Machynlleth is up for sale and I have a buyer. Does the conveyancer need to be on the Nationwide conveyancing panel in order to deal with repayment of my mortgage?

Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.

We are aiming to move house in February. Will my conveyancing solicitor update the removal company on the completion day. Incidentally, can you put forward a removal company in Machynlleth. Conveyancing lawyer was found before I stumbled across this page.

On the afternoon of completion you can collect the keys from your selling agent but this can only be done once the vendors solicitors inform the agent that the monies to complete are in and the keys can be collected. After that you can inform the removal company that you are ready to move in. As a matter of policy we do not suggest a particular removal organisation but can assist you in choosing a residential property solicitor in Machynlleth or a lawyer that specialises in conveyancing in Machynlleth.

I have today made my last payment due on my mortgage with Coventry BS. I assume I don't need a Machynlleth property lawyer on the Coventry BS panel to remove the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Coventry BS has sent the Land Registry the discharge electronically, and
3. Coventry BS has instructed the Land Registry to do so

The formalities of my remortgage has taken place for my property in Machynlleth. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?

Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.

About to purchase a new build flat in Machynlleth. Conveyancing is daunting 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 legal work.

Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Machynlleth

If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.

I am tempted by the attractive purchase price for a two apartments in Machynlleth both have approximately 50 years left on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Machynlleth is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of purchasers and banks, leases with under 75 years become less and less marketable. 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 Machynlleth 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 am the registered owner of a split level flat in Machynlleth, conveyancing having been completed 5 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Machynlleth with a long lease are worth £227,000. The ground rent is £50 yearly. The lease terminates on 21st October 2098

With only 72 years left to run the likely cost is going to range between £9,500 and £11,000 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.