My wife and I intend to remortgage our maisonette in Halkyn with Leeds Building Society. We have a son 18 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Leeds Building Society conveyancing panel as he did not need to sign this form when we purchased 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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.
Can I use your services to recommend a Conveyancing solicitor in Halkyn even if I’m not purchasing or selling a house, for example if I wish to buy an office in Halkyn with a loan from HSBC Bank?
Our comparison service is mainly utilised to help choose residential conveyancing solicitors in Halkyn but we have recorded at the end of this page a few Halkyn commercial conveyancing firms. You will need to make contact with the solicitors directly to establish if they can also act for HSBC Bank
I am buying a new build apartment in Halkyn. 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.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Halkyn
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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.
I need to instruct a conveyancing practitioner in Halkyn for my home move. Is there any facility to review a firm’s complaints history with the legal regulator?
One may review documented Solicitor Regulator Association (SRA) decisions resulting from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. To find details Pre 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The SRA may recorded telephone calls for training requirements.
I am attracted to a two maisonettes in Halkyn which have in the region of 50 years remaining on the leases. Will this present a problem?
There are plenty of short leases in Halkyn. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area.
Leasehold Conveyancing in Halkyn - A selection of Queries Prior to Purchasing
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You should be aware if it is no more than 80 years it will impact the salability of the apartment. It is worth checking with your mortgage company that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease at some point and it is worth finding out what this will be. Remember, in most cases you will be be obliged to have been the owner of the premises for 24 months in order to be entitled to extend the lease. Does the lease contain onerous restrictions? Are there any major works anticipated that will likely add a premium to the maintenance costs?
Is it the case that all Halkyn property lawyers on every bank conveyancing panel?
You can use our search tool or you can go into your local bank branch in Halkyn. Chances are that they will know some good conveyancing solicitors in Halkyn