Is there a reason why leasehold purchase conveyancing in Neath Port Talbot is more expensive?

Neath Port Talbot leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.

I am purchasing a garden flat in Neath Port Talbot. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?

Leaving aside the complexities and merits of DIY conveyancing in Neath Port Talbot you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Neath Port Talbot.

five months have elapsed since my purchase conveyancing in Neath Port Talbot took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Neath Port Talbot is the location of the property. Can you shed any light on this issue?

Flying freeholds in Neath Port Talbot are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Neath Port Talbot you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Neath Port Talbot 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.

Looking forward to exchange soon on a studio apartment in Neath Port Talbot. Conveyancing lawyers assured me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Neath Port Talbot should include some of the following:

if lease provides for a reserve account for major repairs? What remedies are open the freeholder should you breach a clause of your lease? What options are open to you if an adjoining owner is in violation of a provision in their lease? You should have a good understanding of the building insurance provisions Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?

I purchased a studio flat in Neath Port Talbot, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Neath Port Talbot with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 2089

You have 65 years remaining on your lease we estimate the premium for your lease extension to span between £13,300 and £15,400 plus professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.