Should my conveyancer be raising questions regarding flooding as part of the conveyancing in Neath Abbey.

The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Neath Abbey. There are those who buy a house in Neath Abbey, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.

Solicitors are not qualified to give advice on flood risk, but there are a various searches that can be carried out by the buyer or by their conveyancers which should give them a better understanding of the risks in Neath Abbey. The conventional set of property information forms supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a usual question of the vendor to determine if the premises has suffered from flooding. If flooding has previously occurred which is not notified by the vendor, then a purchaser could bring a claim for damages resulting from an misleading reply. The buyer’s solicitors may also carry out an environmental search. This will indicate whether there is any known flood risk. If so, more detailed inquiries will need to be initiated.

I purchased a 4 bedroom Victorian house in Neath Abbey. Conveyancing solicitor represented me and Britannia. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??

You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Neath Abbey and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing practitioner who conducted the purchase.

I'm buying my first flat in Neath Abbey with the aid of help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of extras instead. The sale representative advised me not to tell my solicitor about the extras as it would put at risk my loan with Skipton Building Society. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer 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.

I have been on the look out for a leasehold apartment up to £195,000 and identified one round the corner in Neath Abbey I like with open areas and railway links nearby, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Neath Abbey for this price, so just wondered if I would be making a grave error acquiring a short lease?

If you need a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.

How and when do I pay the Stamp Duty Land Tax chargeable for my conveyancing in Neath Abbey?

Your conveyancing practitioner should fill out a stamp duty return on your behalf during your Neath Abbey purchase transaction for you to sign. After completion your solicitor will submit your Land Transaction application to the Inland Revenue and - assuming they have the funds - settle any tax bill payable for you.