We are a couple about to exchange contracts for a ground floor flat in Port Talbot. We have hit a problem. Our mortgage offer with The Mortgage Works runs out on 25/3/2026 but the sellers are putting forward a completion date of 27/3/2026. Is it possible to extend the loan offer?
The person best placed to deal with your issue is your lawyer who is in a position to determine whether they corresponding with the lender, owner’s representatives, property agents or indeed all three taking into account the circumstances your conveyancing to date.
Are the Port Talbot conveyancing solicitors identified as being on the UBS conveyancing panel, together with their details provided by UBS?
Port Talbot conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one round the corner in Port Talbot I like with a park and station in the vicinity, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in Port Talbot for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage the shortness of the lease will 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 at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
What does commercial conveyancing in Port Talbot cover?
Commercial conveyancing in Port Talbot incorporates a broad range of services, given by qualified solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I wish to sublet my leasehold flat in Port Talbot. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Even though your last Port Talbot conveyancing solicitor is not available you can review your lease to check if it allows you to sublet the premises. The rule is that if the deeds are silent, subletting is permitted. There may be a precondition that you are obliged to obtain permission from your landlord or other appropriate person before subletting. The net result is that you cannot sublet in the absence of prior consent. The consent should not be unreasonably turned down. If your lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.
I inherited a 1 bedroom flat in Port Talbot, conveyancing formalities finalised 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Port Talbot with a long lease are worth £201,000. The ground rent is £45 invoiced every year. The lease ceases on 21st October 2091
With 65 years left to run we estimate the premium for your lease extension to be between £13,300 and £15,400 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.