My partner and I intend to remortgage our penthouse in Caldicot with RBS. We have a son 19 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is repossessed. I have a couple of questions (1) Is this document specific to the RBS conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right 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 RBS. This is solely used to protect RBS 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 RBS 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.
We are selling our home in Caldicot and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. A local lawyer would know that there is no such problem. For the life of me I don't know why the buyers are using a nationwide conveyancing practice as opposed to a conveyancing solicitor in Caldicot. Having lived in Caldicot for many years we know of no issue. Is it a good idea to contact our local Authority to seek clarification that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Just had an offer accepted on a new build apartment in Caldicot. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Caldicot
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. 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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Caldicot is the location of the property. Can you shed any light on this issue?
Flying freeholds in Caldicot are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Caldicot you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Caldicot may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I only have Seventy years left on my flat in Caldicot. I now want to get lease extension but my landlord is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the freeholder. For most situations a specialist may be helpful to try and locate and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the application to the County Court covering Caldicot.
Caldicot Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
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In the main the cost for major works tend not to be wrapped into the maintenance charges, albeit that a few managing agents in Caldicot require leasehold owners to pay into a reserve fund and this is used to offset against larger works. What prohibitions exist in the Caldicot Lease? How much is the ground rent and service charge?
Our lawyer in Caldicot has discovered a a problem with the lease for the property we are purchasing in Caldicot. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer says that as he is on the mortgage company conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the lender?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Caldicot conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. The appropriate lender requirements have to be complied with by the mortgage company conveyancing panel who has to balance acting for you and the mortgage company