My solicitor has uncovered a a problem with the lease for the apartment we are purchasing in Neath. The other side have offered title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancing practitioner has advised that he must check that the mortgage company is willing to move forward with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
Having sold my house in Neath last June yet the purchaser is calling daily to moan that his conveyancer needs to hear from mine. What should my lawyer have done now that I have sold?
After completion of your house sale your conveyancer should forward the transfer documentation and all of the paperwork to the purchaser's conveyancer. Depending on the transaction, your solicitor must also evidence that the mortgage has been discharged to the buyers solicitors. There is unlikely to be post completion formalities peculiar conveyancing in Neath.
I have recentlydiscovered that Arc property Solicitors have been shut down. They conducted my conveyancing in Neath for a purchase of a leasehold apartment 9 months ago. How can I check that the property is not still registered in the name of the previous owner?
The quickest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Neath conveyancing specialists.
In what way can the Landlord & Tenant Act 1954 affect my commercial offices in Neath and how can you help?
The particular law that you refer to provides protection to business tenants, giving them the right to apply to court for a continuation of occupancy when the lease comes to an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and assist with commercial conveyancing in Neath
What are your top tips when it comes to appointing a Neath conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Neath conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Neath conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:
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What are the costs for lease extension conveyancing? If the firm is not ALEP accredited then what is the reason?
I purchased a 2 bed flat in Neath, conveyancing having been completed 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Neath with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 yearly. The lease ceases on 21st October 2095
With only 69 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
Are all Neath law firms on every bank conveyancing panel?
You can use our search tool or you can drop into your local bank branch in Neath. the probability is that they will be in a position to list some approved conveyancing solicitors in Neath