My partner and I intend to remortgage our maisonette in Haverfordwest with Virgin Money. We have a son approaching twenty 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 apartment is repossessed. I have a couple of concerns (1) Is this form unique to the Virgin Money conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Virgin Money conveyancing panel solicitor is doing the right thing 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 Virgin Money. This is solely used to protect Virgin Money 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 Virgin Money 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.
Please explain the implications if my solicitor is expelled from the Aldermore Conveyancing panel ahead of completing my conveyancing in Haverfordwest?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Various web forums that I have frequented warn that are the primary cause of obstruction in Haverfordwest house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Searches are unlikely to feature in any holding up conveyancing in Haverfordwest.
Hoping to buy a property located in Haverfordwest and I am already nervous. I couldn't find anything specific about Haverfordwest. Conveyancing will be needed in due course but do you know about the Haverfordwest area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Haverfordwest. In the meantime here are some basic statistics that we found
I am employed by a reputable estate agent office in Haverfordwest where we have experienced a number of flat sales put at risk due to short leases. I have received conflicting advice from local Haverfordwest conveyancing solicitors. Can you confirm whether the vendor of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Haverfordwest Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
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Are there any major works anticipated that will likely increase the maintenance costs? The answer will be useful as a) areas could cause problems for the building as the communal areas may begin to deteriorate where services remain unpaid b) if the tenants have a dispute with the running of the building you will want to have full disclosure
We are soon to purchasing a apartment in Haverfordwest. Could our lawyer have the amount we are are purchasing for a secret from the likes of Zoopla. Is this possible and how?
The Land Registry are legally obliged to note price sold data on a register of the title for domestic properties countrywide including homes in Haverfordwest. The register of ownership is an open document, so HM Land Registry would be breaking the law excluded specific homes such as the property in Haverfordwest.
In essence you can make a request of the Land Registry to withhold the price paid entry however the answer would be a No.