My husband and I are nearing an exchange on a house in Skewen and my mum and dad have transferred the ten percent deposit to my . I am now told that as the deposit has not come from me my needs to disclose this to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the bank concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?

The is obliged to clarify with the bank to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.

How does conveyancing in Skewen differ for new build properties?

Most buyers of new build property in Skewen approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is constructed. This is because builders in Skewen typically buy the site, 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 conveyancers 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 Skewen or who has acted in the same development.

Due to the advice of my in-laws I had a survey completed on a property in Skewen ahead of instructing conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some banks may not grant a mortgage on this type of home.

It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. If you call us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Skewen. Conveyancing will be smoother if you use a solicitor in Skewen especially if they are acquainted with such properties in Skewen.

Should I use a Skewen conveyancing practitioner who is local to the property I am hoping to buy? We have a good friend who can deal with the legal formalities but her office is approximately 350miles drive away.

The primary upside of using a local Skewen conveyancing practice is that you can visit the firm to sign documents, deliver your identification documents and pester them if necessary. They will also have local insight which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were impressed that should trump using an unfamiliar Skewen conveyancing lawyer just because they are round the corner.

Planning to exchange soon on a studio apartment in Skewen. Conveyancing solicitors inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Skewen should include some of the following:

Details of the parties to the lease, for instance these could be the (you), superior lessor, landlord Alterations to the property Does the lease prohibit wood flooring? Where does the liability rest to repair and maintain the block. It is important for you to know which party is duty bound to repair and maintenance of every part of the building You should receive a copy of the lease

I acquired a 1 bedroom flat in Skewen, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Skewen with an extended lease are worth £165,000. The ground rent is £45 levied per year. The lease runs out on 21st October 50

With only 50 years remaining on your lease we estimate the price of your lease extension to range between £36,100 and £41,800 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.