Have just purchased a repossessed house at auction in Neath Port Talbot. Conveyancing is needed. What happens now?

Having exchanged you will need to retain a conveyancing lawyer quickly as you are faced with a tight deadline in which to complete the conveyancing. All auction property will have an associated legal pack. This will likely include evidence of title and search results. Where you are dealing with leasehold property the auction pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You must pass this on to the lawyer working for you ASAP. Do make sure that your finances are in place to complete on the on the contractual date .

Is it the case that all Neath Port Talbot solicitor practices on the Clydesdale conveyancing panel are overseen by the Solicitors Regulatory Authority?

As solicitors, in order to be on the Clydesdale approved list of solicitors they would need to be governed by the SRA. Some banks do permit licenced conveyancers on their panel and in that case the organisation would be regulated by the Council of Licensed Conveyancers.

I currently have a mortgage with TSB for my property in Neath Port Talbot. Conveyancing has been completed months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform TSB?

Your original mortgage agreement with TSB will provide that you need their approval prior to letting out your property as this is likely to be a breach of TSB’s mortgage conditions. It may be that TSB will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact TSB directly. It should not be necessary to do this via a TSB conveyancing panel firm.

How does conveyancing in Neath Port Talbot differ for new build properties?

Most buyers of new build or newly converted property in Neath Port Talbot come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because developers in Neath Port Talbot tend to acquire the land, 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 property lawyers 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 used to new build conveyancing in Neath Port Talbot or who has acted in the same development.

I am looking for a flat up to £305k and found one close by in Neath Port Talbot I like with amenity areas and transport links in the vicinity, however it's only got 51 years on the lease. There is not much else in Neath Port Talbot suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?

Should you need a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.

I would like to let out my leasehold apartment in Neath Port Talbot. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Your lease governs the relationship between the freeholder and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Neath Port Talbot do not contain subletting altogether – such a provision would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

Neath Port Talbot Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing

The majority of Neath Port Talbot leasehold apartments will be liable to pay a service bill for maintenance of the block levied on behalf of the management company. Where you buy the property you will have to pay this charge, usually quarterly throughout the year. This can vary from a few hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a rentcharge for you to pay annual, ordinarily this is not a exorbitant amount, say approximately £50-£100 but you should to enquire it because occasionally it could be many hundreds of pounds. How many years are left on the lease?

My conveyancing in Neath Port Talbot is completing next Friday, but the couple I am purchasing from has asked to move out on the Saturday at 2pm. Can I accept this?

You can't complete on a Saturday because the bank systems are not working.