Have just purchased a repossessed house at auction in Blaenau Gwent. Conveyancing is necessary. What are my next steps?

Having for all intents and purposes signed on the dotted line you should hire the services of a conveyancing practitioner as a matter of urgency as you will have a tight deadline in which to complete the purchase. Every auction property should have an associated legal pack. This will likely include most,if not all of the documents that your conveyancer will need. If you have purchased leasehold property the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You should hand this to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds in place to complete on the date specified in the contract.

When it comes to mortgage companies such as Nottingham, do Blaenau Gwent conveyancing practitioners incur an annual charge to be on the conveyancing panel?

We are not aware of any lender fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.

I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Blaenau Gwent bank branch on various occasions and was advised it wasn't a problem and they would lend. My Blaenau Gwent conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they would not lend in accordance with their specific requirements. Who do I believe?

The conveyancer must follow the CML Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 lender to contact your lawyer in writing confirming that they will accept the number of years remaining.

Do I need to pay for insurance to address the risk of chancel repairs when acquiring a property in Blaenau Gwent?

Unless a previous purchase of the premises completed after 12 October 2013 you can assume that conveyancing practitioners carrying out conveyancing in Blaenau Gwent to continue to propose a a chancel search and or chancel repair liability policy.

I've recently found out that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Blaenau Gwent is the location of the property. Can you offer any advice?

Flying freeholds in Blaenau Gwent 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 Blaenau Gwent you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Blaenau Gwent may determine 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.

Do I need to be concerned by third parties that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a local Blaenau Gwent conveyancing practice?

As is the case with many service providers, often suggestions from relatives can be very helpful. Nevertheless there are numerous players in a conveyancing deal; estate agents, mortgage brokers and lenders might all recommend conveyancers to appoint. On occasion the solicitors might be known to one of the organisations as experts in their field, but sometimes there behind the scenes financial incentive behind the recommendation. You have the right to choose your own lawyer. However, bear in mind that some banks operate an approved list of law firms you have to use for the lender related work in your conveyancing.

I am employed by a reputable estate agent office in Blaenau Gwent where we have witnessed a number of flat sales jeopardised due to short leases. I have received conflicting advice from local Blaenau Gwent conveyancing firms. Can you confirm whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Blaenau Gwent Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing

This information is helpful as a) areas can result in problems in the building as the common areas may begin to deteriorate if repairs are not paid for b) if the tenants have a dispute with the running of the building you will need to have full disclosure Make sure you find out if the the lease contains any adverse restrictions in the lease. For example it is reasonably common in Blaenau Gwent leases that pets are not permitted in in a block in Blaenau Gwent. If you like the apartmentin Blaenau Gwent however your dog can’t make the move with you then you will be faced hard decision.