I am approaching an exchange on a house in Neath Port Talbot and my mum and dad have transferred the ten percent deposit to my lawyer. I am now informed that as the deposit has been received from someone other than me my lawyer needs to make a notification to my mortgage company. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?

The conveyancing practitioner is legally required to clarify with lender to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.

I am buying a terraced house in Neath Port Talbot. How practical is it for me to do the conveyancing?

Leaving aside the complexities and merits of DIY conveyancing in Neath Port Talbot you will have to appoint a solicitor on your lender'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.

How easy is it to use the search tool to get a quote from a conveyancing lawyer in Neath Port Talbot on the approved list for my bank?

1st choose a mortgage company such as Lloyds TSB Bank, Norwich and Peterborough Building Society or Aldermore then type in your preferred area e.g. Neath Port Talbot. Conveyancing organisations in Neath Port Talbot and nationally will then be identified.

I am attracted to a two maisonettes in Neath Port Talbot which have approximately forty five years left on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Neath Port Talbot is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. For most purchasers and lenders, 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 Neath Port Talbot 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. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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.

Neath Port Talbot Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying

Make sure you find out if the the lease includes any adverse restrictions in the lease. For example some leases prohibit pets being permitted in certain buildings in Neath Port Talbot. If you like the flatin Neath Port Talbot but your dog is not allowed to live with you then you will be faced difficult choice. Where a Neath Port Talbot lease has no more than eighty years it will impact the value of the apartment. It is worth checking with your lender that they are happy with the length of the lease. A short lease means that you will most likely have to extend the lease sooner rather than later and it is worth finding out what this would cost. Remember, in most cases you would be required to have owned the property for 24 months in order to be entitled to carry out a lease extension. What is the name of the managing agents?

There are plenty of houses in Neath Port Talbot on private lanes. My partner and I are buying such a house. Are there any advantages to purchasing a house on a private road?

Neath Port Talbot conveyancing lawyers are well versed in dealing houseson private. The property lawyer will investigate Land Registry data to identify any rights or liabilities. It is possible that there is a residents association that proprietors make annual payments to maintain the road. Where there is one, the road will likely be maintained and appear better than council maintained.