We were about to choose a conveyancing solicitor in Margam listed using your comparison tool but stumbled across alternative quotes on the internet seem less pricey – why is this?

There are many firms of conveyancing organisations promoting supposedly £99 conveyancing, yet more often than not supplementalfees end up with the closing invoice being inflated. Conveyancers are obliged to make sure that charges set out in terms and conditions should be fair and reasonable raised The conveyancers that we list for conveyancing in Margam clearly state all costs for a standard conveyancing transaction.

If you had a top tip for selecting a conveyancing solicitor in Margam what would it be?

We would encourage you not to go for the lowest Margam conveyancing costs illustration. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.

My wife and I are in the process of looking at flats in Margam and I am now considering a potential offer. Is it wise to have a conveyancing practitioner on ‘stand by’? I will be getting a mortgage with Principality.

You should start requesting conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. As you are seeking a mortgage with Principality, ask your prospective lawyers if they are on the Principality conveyancing panel otherwise they can't do the mortgage legal work.

The mortgage over my property is with Aldermore for my property in Margam. Conveyancing has been completed some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Aldermore?

You must advise Aldermore prior to letting out your property as this is likely to be a breach of Aldermore’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. It should not be necessary to do this via a Aldermore conveyancing panel firm.

Is it necessary to pay for insurance to address the risk of chancel repairs when buying a house in Margam?

Unless a previous purchase of the premises took place post 12 October 2013 you may expect conveyancing practitioners delivering conveyancing in Margam to remain encouraging a chancel search and or chancel repair liability insurance.

I am tempted by the attractive purchase price for a two maisonettes in Margam both have in the region of 50 years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Margam is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the value of the property. For most purchasers and banks, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 Margam conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.

I own a 1 bedroom flat in Margam, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Margam with over 90 years remaining are worth £181,000. The ground rent is £55 levied per year. The lease ceases on 21st October 2075

You have 51 years left to run we estimate the premium for your lease extension to be between £30,400 and £35,200 plus professional fees.

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 without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.

We have been informed by many estate agents that it can take up to two months for Margam conveyancing to complete.This was 3 ago. The paperwork was only sent from the vendors lawyer yesterday so does the clock start running now?

One should treat with caution of any conveyancing practitioner promising fast completion times. Instead ask the average timeframe to complete Margam conveyancing transactions and whether they are happy to move towards your proposed completion date for your conveyancing in Margam