Can you clarify what the consequences are if my lawyer’s firm is expelled from the Santander Solicitor panel ahead of completing my conveyancing in Neath Port Talbot?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Are there restrictive covenants that are commonly identified as part of conveyancing in Neath Port Talbot?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Neath Port Talbot. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a flat up to £195,000 and identified one round the corner in Neath Port Talbot I like with open areas and transport links in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Neath Port Talbot for this price, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities 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 consult your conveyancing lawyer concerning this matter.
I'm converting the mortgage on my existing property to a buy to let loan with Aldermore and intend to use the remaining equity as a deposit on a second house. The location we are talking about is Neath Port Talbot. Will your conveyancers be able to act for the two lenders and link together the conveyances?
Make use of our search tool on this page to ensure that the solicitors are on the relevant lender panels. Assuming that they are your lawyer should be able to tie up the two deals but you should have a chat with you lawyer and make apparent your expectations and needs.
Can you offer any advice when it comes to appointing a Neath Port Talbot conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Neath Port Talbot conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Neath Port Talbot conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be helpful:
If the firm is not ALEP accredited then what is the reason? What are the legal fees for lease extension work?
Neath Port Talbot Leasehold Conveyancing - Sample of Queries before buying
Its a good idea to find out as much as you can regarding the company managing the building as they can either make life much easier or a lot more difficult. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to every day issues like the cleanliness of the common parts. Don't be shy to ask prospective neighbours whether they are happy with their management. Finally, be sure you understand the dates that you are obliged pay the service charge to the appropriate party and specifically how they are spending the funds. Is there a share of the freehold? The prefered form of lease arrangement is if the freehold interest is owned by the leaseholders. In this situation the lessees enjoy being in charge if their destiny and although a managing agent is frequently employed if the building is bigger than a house conversion, the managing agent is directed by the tenants.