When does exchange of contracts occur in domestic conveyancing in Risca and am I required to attend the lawyers office?
If you are in close proximity to our conveyancing solicitors in Risca you are invited in to sign the paperwork. However, the firms we work with offer a countrywide conveyancing service and provide just as diligent and professional a job for you when communicating with you digitally. The executing of the contract is not the critical part. A signed contract is just a prerequisite for the conveyancer to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Risca)to be in the office at the appropriate time.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Risca. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 27/2/2026, the requirements read as follows :
How does conveyancing in Risca differ for newly converted properties?
Most buyers of new build residence in Risca approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is completed. This is because house builders in Risca usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Risca or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £195,000 and found one round the corner in Risca I like with open areas and railway links in the vicinity, however it only has 61 years unexpired on the lease. I can't really find anything else in Risca in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
In relation to leasehold conveyancing in Risca what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Risca. All leases are unique and drafting errors can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:
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A provision to repair to or maintain parts of the property
You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Barnsley Building Society, and TSB 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 is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I acquired a split level flat in Risca, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Risca with over 90 years remaining are worth £175,000. The ground rent is £65 yearly. The lease comes to an end on 21st October 2084
With just 58 years left to run we estimate the price of your lease extension to range between £23,800 and £27,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
We have instructed a Risca conveyancing solicitor for our home move (first time buyers) and have spotted in the engagement letter that they are not regulated by the Financial Conduct Authority. Am I right to be worried or is that the norm with conveyancing practitioner?
We can't see why they should be. Most solicitor don't lend money. You should check that they are regulated by the Solicitors Regulation Authority, who set stringent obligations in place on funds held by them.