AssumingI was to acquire a freehold homein Neath Abbey mortgage fee and dispense with a survey and no conveyancing searches how much should I expect to to save on my conveyancing in Neath Abbey?
Any savings you would make will be limited to the Neath Abbey conveyancing searches. A solicitor is required to do the vast majority of work - money laundering, correspond with your sellers property lawyer, stamp duty return, register the title etc. A marginal saving might be made by not having to register a charge but it will not be significant.
What does my ID and proof of funds have anything to do with my conveyancing in Neath Abbey? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Neath Abbey conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually satisfied by provision of a passport and an original bank statement or utility account showing where you reside.
In accordance with Money Laundering Regulations, property lawyers are required to validate not just the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. Refusal to disclose this will lead to your solicitor cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers are duty bound to notify the appropriate authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
I have justbeen informed that Stirling Law have closed. They carried out my conveyancing in Neath Abbey for a purchase of a freehold house 10 months ago. How can I check that my home is in my name in the name of the previous owner?
The quickest way to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Neath Abbey conveyancing specialists.
How does conveyancing in Neath Abbey differ for new build properties?
Most buyers of new build property in Neath Abbey come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Neath Abbey usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Neath Abbey or who has acted in the same development.
How does the Landlord & Tenant Act 1954 affect my commercial premises in Neath Abbey and how can you help?
The 1954 Act gives protection to commercial tenants, granting the legal entitlement to apply to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and help with commercial conveyancing in Neath Abbey
If all goes to plan we aim to complete our sale of a £225,000 garden flat in Neath Abbey in just under a week. The managing agents has quoted £396 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Neath Abbey?
Neath Abbey conveyancing on leasehold maisonettes often necessitates the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They are entitled to invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee required by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the charge is technically not due. In reality you have little choice but to pay whatever is requested of you should you wish to sell the property.
I am the registered owner of a 1 bedroom flat in Neath Abbey, conveyancing having been completed 10 years ago. How much will my lease extension cost? Comparable flats in Neath Abbey with a long lease are worth £191,000. The ground rent is £55 charged once a year. The lease comes to an end on 21st October 2078
With 54 years left to run we estimate the premium for your lease extension to be between £32,300 and £37,400 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.