My friend recommended that where I am purchasing in Ebbw Vale I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?

This is a search is sometimes quoted for as part of the standard Ebbw Vale conveyancing searches. It is not a small report of about 40 pages, listing and detailing important information about Ebbw Vale around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful data regarding Ebbw Vale.

How does conveyancing in Ebbw Vale differ for new build properties?

Most buyers of new build or newly converted property in Ebbw Vale come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Ebbw Vale tend to acquire 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 property lawyers 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 accustomed to new build conveyancing in Ebbw Vale or who has acted in the same development.

I am looking for a flat up to £245,000 and identified one close by in Ebbw Vale I like with a park and railway links in the vicinity, however it's only got 51 years on the lease. I can't really find anything else in Ebbw Vale suitable, so just wondered if I would be making a mistake buying a short lease?

If you need a mortgage that many years may be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.

I need to find a conveyancing solicitor for remortgage conveyancing in Ebbw Vale. I happened to stumble upon a site which seems to have the perfect offering If there is a chance to get all this stuff completed via web that would be preferable. Should I be wary? What should out be looking out for?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I am tempted by the attractive purchase price for a two flats in Ebbw Vale both have in the region of forty five years unexpired on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Ebbw Vale is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of purchasers and mortgage companies, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Ebbw Vale conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Ebbw Vale Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing

Make sure you discover if there are any onerous prohibitions in the lease. For example it is fairly common in Ebbw Vale leases that pets are not allowed in in a block in Ebbw Vale. If you like the propertyin Ebbw Vale yet your dog can’t make the move with you then you will be faced hard determination. The answer will be helpful as a) areas may cause problems for the building as the communal areas may start to deteriorate if maintenance remain unpaid b) if the leasehold owners have an issue with the managing agents you will wish to know about it The prefered form of lease arrangement is a share of the freehold. In this arrangement the lessees have being in charge if their destiny and notwithstanding that a managing agent is usually retained if it is larger than a house conversion, the managing agent is directed by the tenants.