All was ready to complete my purchase in Gwaelod Y Garth next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What risks does the bank expect the insurance to cover?

All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These obligations are not limited to conveyancing in Gwaelod Y Garth.

Our mortgage company has suggested a law firm on their panel based in Gwaelod Y Garth but I would rather instruct a conveyancing lawyer in Gwaelod Y Garth or nearer to where I live. Are you able to help?

Not all Gwaelod Y Garth conveyancing firms are approved and listed on all banks conveyancing panel. Use our find an approved solicitor tool to identify a Gwaelod Y Garth conveyancing firm on the on the mortgage company panel.

The estate agent has sent us the confirmation of our purchase of a new build apartment in Gwaelod Y Garth. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Gwaelod Y Garth

The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?

Due to the guidance of my in-laws I had a survey completed on a property in Gwaelod Y Garth ahead of instructing solicitors. I have been told that there is a flying freehold element to the property. My surveyor has said that some banks will not grant a mortgage on a flying freehold house.

It depends who your proposed lender is. Santander has different requirements from Halifax. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Gwaelod Y Garth. Conveyancing will be smoother if you use a solicitor in Gwaelod Y Garth especially if they are accustomed to such properties in Gwaelod Y Garth.

I today plan to offer on a house that seems to be perfect, at a great price which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Gwaelod Y Garth. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

The majority of houses in Gwaelod Y Garth are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Gwaelod Y Garth so you should seriously consider shopping around for a Gwaelod Y Garth conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.

Leasehold Conveyancing in Gwaelod Y Garth - A selection of Questions you should ask before buying

Please note that where the lease has no more than 80 years it will have adverse implications on the marketability of the property. Check with your bank that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will most likely need a lease extension at some point and it is worth finding out how much this will be. For most Gwaelod Y Garthlease extensions you will be required to have been the owner of the premises for two years before you are eligible to extend the lease. Are any of leasehold owners in dispute over their service charge payments? It is important to be aware if a new roof is being installed or some other major work is due shortly that will be shared by the leaseholders and will materially impact the level of the service fees or require a specific payment.