Do the conveyancing lawyers that you recommend handle conveyancing in Abertillery by way of an attended exchange?

There are a few conveyancing experts who can conduct personalised exchanges. Do contact us to obtain a fee calculation and details as to dates.

Is there a reason why leasehold purchase conveyancing in Abertillery is more expensive?

The conveyancing charges for a leasehold property in Abertillery is often greater when contrasted to a freehold acquisition or disposal. This is due to the supplemental time required in corresponding with the landlord and managing agents to collate the evidence about whether the rent and service fee have been cleared and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the block.

My father informed me that in purchasing a property in Abertillery there may be a number of restrictions prohibiting external alterations to the property. Is this right?

There are anumerous of properties in Abertillery which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Abertillery should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

When it comes to mortgage companies such as Leeds Building Society, do Abertillery solicitors incur a fee to be on the conveyancing panel?

We are unaware of any lender fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.

It is unclear whether my lender requires a lease extension. I have telephoned my Abertillery building society branch on a couple of occasions and was told they are content with the situation and they would lend. My Abertillery conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend based on their specific requirements. Who do I believe?

Your conveyancer must comply with the CML Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.

How does conveyancing in Abertillery differ for newly converted properties?

Most buyers of new build property in Abertillery contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Abertillery typically 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 Abertillery or who has acted in the same development.

Last April I purchased a leasehold property in Abertillery. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Leasehold Conveyancing in Abertillery - Examples of Questions you should consider Prior to Purchasing

How much is the ground rent and service charge? It would be prudent to find out as much as possible about the company managing the block as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to every day issues like the cleanliness of the communal areas. Don't be afraid to ask prospective neighbours whether they are happy with their management. On a final note, be sure you understand the dates that the service fees are due to the managing agents and specifically what you get for your money.