The vendors of the property we are looking to purchase hired a conveyancing practitioner in Neath who has suggested a exclusivity contract with a non-refundable deposit 6,000. Are such agreements sensible?
This type of preliminary agreement is not the norm in Neath, conveyancers are not keen on them as they divert attention from the primary focus, namely conveyancing and if you end up losing your deposit then the lawyer is left exposed. Furthermore, there is no guarantee that just because the vendor has entered into a lock out contract they will complete the sale with you. They may be tempted to break the contract if they receive a large enough offer to do so because an aggrieved buyer with the benefit of a lockout agreement will still be obliged establish consequential losses from the breach and this may not compare to the financial benefit that your vendor may secure by breaching the contract, no matter how morally shameful that may be.
I own a freehold house in Neath yet pay rent, why is this and what is this?
It’s unusual for properties in Neath and has limited impact for conveyancing in Neath but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Do the Building Society Association intend to launch a search tool with a view to to identify solicitors on the Norwich and Peterborough Building Society conveyancing panel for example in Neath?
We are not aware of any intention on the part of the BSA to develop such a register.
Have just purchased a probate house at auction in Neath. Conveyancing is needed. What is next?
Now that you have to in every practical sense signed on the dotted line you will need to find a conveyancing lawyer soon as you are faced with a fast approaching deadline in which to complete the purchase. Every auction property will ordinarily have an associated auction set of papers. This should include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the legal papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You should hand this to the solicitor working for you at the earliest opportunity. Do make sure that you have funds in order to complete on the date specified in the contract.
We have a mortgage agreed in principle with Nottingham. Neath conveyancing lawyers are selected. What is the average time that one could expect to receive a mortgage offer from Nottingham?
There is no definitive answer here. Have Nottingham done the valuation? Have you advised Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Yorkshire BS have agreed my home loan in principle, my offer on a flat in Neath has been agreed to, now what?
The property agent will wish to be informed of your lawyer's details (be sure the property lawyers are on the bank’s approved list). Contact Yorkshire BS or the broker and finalise any outstanding paperwork. Yorkshire BS will appoint a valuer who will get in contact with the estate agent or seller to arrange an appointment. Once conducted (assuming no problems) it takes on average a fortnight to get a mortgage offer. Yorkshire BS will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Neath.
I am buying a new build apartment in Neath. Conveyancing is a frightening process 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 legal work.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Neath
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan.
I'm remortgaging my primary house to a BTL mortgage with Clydesdale and I will use the ballance of the raised equity as a deposit on further property. The location we are looking at is Neath. Will your conveyancers be able to act for both sets of lenders and link together the transactions?
Do use our comparison tool on this site to be sure that the conveyancers are on the appropriate lender panels. Assuming that they are the solicitor should be able to simultaneously deal with the two conveyancing matters but you should talk with you lawyer and communicate your desired outcome and needs.