We are nearing an exchange on a house in Neath Abbey and my parents have sent the exchange deposit to my solicitor. I am now told that as the deposit has not come from me my conveyancer needs to make a notification to my mortgage company. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?

The solicitor is obliged to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.

In what way does my ID and proof of funds have anything to do with my conveyancing in Neath Abbey? What am I being asked for?

You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Neath Abbey. Nowadays you can not complete any conveyancing transaction without first handing over evidence of your identity. This usually takes the form of a either your passport or driving licence plus a council tax bill. Please note that if you are supplying your driving licence as evidence of identification it needs to be both the paper part and photo card part, one is not acceptable without the other.

Verification of the origin of monies is necessary under Money Laundering Regulations. You should not be offended when when this is requested of you as your lawyer must have this information on record. Your Neath Abbey conveyancing lawyer will require evidence of proof of funds prior to accepting any funds from you into their client account and they will also ask further questions concerning the origin of monies.

I am purchasing my first flat in Neath Abbey with a mortgage from The Mortgage Works. The developers would not reduce the amount so I negotiated 6k of additionals instead. The house builders rep advised me not inform my conveyancer about the side-deal as it will jeopardize my loan with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Due to the input of my in-laws I had a survey completed on a house in Neath Abbey in advance of retaining lawyers. I have been told that there is a flying freehold element to the property. The surveyor advised that some banks may refuse to grant a mortgage on such a house.

It depends who your proposed lender is. Lloyds has different requirements from Nationwide. If you e-mail us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Neath Abbey. Conveyancing will be smoother if you use a solicitor in Neath Abbey especially if they are accustomed to such properties in Neath Abbey.

Can you provide any advice for leasehold conveyancing in Neath Abbey with the intention of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Neath Abbey can be avoided if you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Neath Abbey leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. If you fail to have the consents to hand you should not communicate with the landlord without contacting your lawyer in advance. If there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled. A minority of Neath Abbey leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. The majority of freeholders or managing agents in Neath Abbey charge for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Neath Abbey.

I bought a 1 bedroom flat in Neath Abbey, conveyancing was carried out in 2004. Can you work out an approximate cost of a lease extension? Corresponding properties in Neath Abbey with an extended lease are worth £181,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ends on 21st October 2075

With just 51 years remaining on your lease the likely cost is going to be between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.