I am in the market for a reasonably priced conveyancer. Should I go for for a nationwide conveyancer as opposed to a high street Neath conveyancing lawyer?
Existing third party relationships is an important consideration when choosing conveyancing solicitors. Neath law firms benefit from connections with mortgage brokers and agents, local authorities, surveyors and other conveyancing firms meaning you will move in shortest possible time. Hosting vast intelligence of the local area is also a plus .
My flat in Neath is up for sale and I have a buyer. Does my lawyer have to be on the Aldermore conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Aldermore 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 conditions fairly frequently in recent years.
Is it the case that all Neath CQS (Conveyancing Quality Scheme) solicitors are on the HSBC conveyancing list of approved practices?
A selection of banks and building societies now utilise CQS as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
I am currently in the process of buying my council flat in Neath. I have a mortgage offer with Aldermore. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
At last I have had an offer on a maisonette in Neath accepted, but there is a chain. The vendors have put an offer on a flat, however it’s not been accepted yet, and are looking at other flats in the pipeline. I have selected a nearby conveyancing solicitor in Neath. What do I do now? When do I get the mortgage application with Leeds Building Society going?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx £1k, then survey, Neath conveyancing search charges, etc). First, you must ensure that your solicitor is on the Leeds Building Society approved list. Concerning the subsequent steps this very much depends on the specifics of your transaction, motivation for the property and on the state of the market. In a hot market many buyers would apply for a home loan with Leeds Building Society and arrange for the valuation and only if it was satisfactory would they request their property lawyer to proceed with the conveyancing in Neath.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Neath is the location of the property. Is there any advice you can impart?
Flying freeholds in Neath are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Neath you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Neath may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am looking at a couple of maisonettes in Neath both have approximately 50 years left on the leases. Will this present a problem?
There are plenty of short leases in Neath. The lease is a right to use the property for a prescribed time frame. As the lease shortens the marketability of the lease reduces and it becomes more expensive to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena.
I acquired a ground floor flat in Neath, conveyancing formalities finalised half a dozen 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? Similar properties in Neath with a long lease are worth £201,000. The ground rent is £45 charged once a year. The lease finishes on 21st October 2090
With only 65 years unexpired we estimate the price of your lease extension to be between £13,300 and £15,400 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be 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 based on this information before seeking the advice of a professional.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Neath. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
Most houses in Neath are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Neath so you should seriously consider shopping around for a Neath conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should advise you fully on all the issues.