My partner and I swapping mortgage lender for our penthouse in Bridgend with Aldermore. We have a son 18 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this form unique to the Aldermore conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Aldermore. This is solely used to protect Aldermore if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Aldermore had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
My property lawyer in Bridgend is not listed on the Aldermore Approved Panel. Can I still continue with my family solicitor even though they are not on the Aldermore panel?
The limited options available to you here include:
- Carry on with your preferred Bridgend solicitors but Aldermore will need to use a solicitor on their panel. This will result in additional total legal fees and result in frustration.
- Choose a new practitioner to to deal with the purchase, not forgetting to check they are Persuade your solicitor to use their best endeavours to join the Aldermore conveyancing panel
Have completed on a a terraced house in Bridgend , how long should it take for the Land Registry to register my ownership? My Bridgend conveyancing solicitor has been very slow, so I want to be certain the registration is concluded.
There is nothing unique about conveyancing in Bridgend registration formalities. Rather than based on location, timescales can differ subject to the party submitting the application, whether there are errors and if the Land registry communicate with any other parties. At present in the region of 80% of such applications are fully dealt with in less than three weeks but occasionally there can be protracted delays. Historically registration occurs after the buyer has moved in to the property therefore 'speed' is not always primary concern but where there is a degree of urgency associated with the registration then you or your conveyancer must contact the land registry and explain the circumstances.
Just had an offer accepted on a new build flat in Bridgend. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Bridgend
-
Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I opted to have a survey carried out on a property in Bridgend ahead of instructing conveyancers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some mortgage companies may not grant a mortgage on such a home.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bridgend. Conveyancing may be slightly more expensive based on your lender's requirements.
Can you offer any advice when it comes to appointing a Bridgend conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Bridgend conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with several firms including non Bridgend conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
-
How familiar is the practice with lease extension legislation?
Bridgend Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
-
Most Bridgend leasehold flats will be liable to pay a service bill for maintenance of the block invoiced by the landlord. Where you buy the flat you will have to pay this amount, normally in instalments during the year. This could be anything from two or three hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all likelihood there will be a rentcharge to be met yearly, this is usually not a large amount, say approximately £50-£100 but you need to check as sometimes it could be prohibitively expensive. How much is the service charge and ground rent on the flat? Are any of leasehold owners in dispute over their service charge payments?