My lawyer has uncovered a a problem with the lease for the flat we are purchasing in Llandough. The other side have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor has advised that he must be satisfied that the mortgage company is happy with this solution. Are we the client or is the mortgage company ?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the mortgage company are the client. The appropriate lender specifications must be adhered to.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Llandough. My lender is Nationwide Building Society
Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 2/9/2025, the requirements read as follows :
I am looking for a leasehold apartment up to £305k and identified one round the corner in Llandough I like with a park and station nearby, however it's only got 49 years unexpired on the lease. There is not much else in Llandough for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage that many years may be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
Is it simple use your search tool to select a conveyancing lawyer in Llandough on the panel for my lender?
1st select a bank such as Lloyds TSB Bank, Leeds Building Society or Britannia then choose your preferred area a common one being Llandough. Conveyancing practices in Llandough and further afield should be shown.
My husband and I are four weeks into a freehold purchase having been referred to solicitors by the selling agent to carry out the conveyancing in Llandough. I am am very frustrated with the quality of service. Can you help me find new solicitors?
They would need to be really bad to suggest diss instructing them. Has the loan offer been generated? If so you need to make them aware of the new contact details and have the offer are re-issued. Your new conveyancer should be on the banks approved list to avoid added costs and delays. That should be your starting point. Our search tool will help you find a lender approved lawyer for your home move in Llandough
I own a leasehold flat in Llandough. Conveyancing was finished in last year. I have read on various consumer forums that I mustn’t allow the lease length fall too short. Is this correct?
Llandough residential long term leases are for a set term - often ninety nine years when they commenced. However many appartments in Llandough were built or converted in the 60’s and so these leases now have less than eighty years unexpired. That may seem like a long time however Banks, Building Societies and other mortgage lenders generally need leases to have at least 75 years remaining to be mortgageable. Accordingly when you come to sell the property you will need to extend the term of your lease if you are getting close to seventy five years. To increase your property value you should be thinking about whether to extend your lease well in advance of selling the property. Please note that there are advantages to taking action before the lease reaches even 80 years as when the lease falls below 80 years the premium to be paid to extend starts to get a lot more expensive.