Our solicitor has identified a defect with the lease for the property we are buying in Neath. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will pay for it. Our has advised that he must check that the lender is willing to move forward with this solution. Who is the client here, us or the bank?

Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the lender are the client. The appropriate lender specifications must be adhered to.

Just had an offer accepted on a new build apartment in Neath. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Here is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Neath

Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan.

Over the last few months I have been searching for a ground for flat up to £245,000 and identified one near me in Neath I like with amenity areas and railway links in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Neath for this price, so just wondered if I would be making a mistake buying a short lease?

Should you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.

How do I use your search app to select a conveyancing practitioner in Neath on the approved list for my mortgage?

First pick a mortgage company such as , or then type in your preferred area a common one being Neath. Conveyancing firms in Neath and beyond will then be identified.

Neath Conveyancing for Leasehold Flats - A selection of Queries before Purchasing

Many Neath leasehold flats will be liable to pay a service charge for maintenance of the building invoiced on behalf of the management company. Should you buy the property you will have to meet this charge, normally periodically throughout the year. This may be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all probability there will be a rentcharge for you to pay yearly, ordinarily this is not a large sum, say approximately £25-£75 but you should to enquire it because on occasion it could be prohibitively expensive. What prohibitions exist in the Neath Lease? This question is helpful as a) areas can result in problems for the block as the common areas may start to deteriorate if services remain unpaid b) if the leasehold owners have a dispute with the running of the building you will need to know about it