My wife and I intend to remortgage our flat in Llanbrynmair with Virgin Money. We have a son 18 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 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 questions (1) Is this form unique to the Virgin Money conveyancing panel as he never had to sign this form when we bought 4 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.
Our mortgage company has suggested solicitors on their panel based in Llanbrynmair but I would rather choose a conveyancing lawyer in Llanbrynmair or nearer to where I live. Can you assist?
Far from all Llanbrynmair conveyancing solicitors are on all lender’s conveyancing panel. Do make the most of our find an approved solicitor tool to locate a Llanbrynmair conveyancing conveyancer on the on the lender panel.
Should our lawyer be raising enquiries concerning flooding as part of the conveyancing in Llanbrynmair.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Llanbrynmair. There are those who purchase a property in Llanbrynmair, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, however there are a various searches that may be carried out by the purchaser or on a buyer’s behalf which can figure out the risks in Llanbrynmair. The standard information sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the vendor to find out whether the premises has historically flooded. If the premises has been flooded in past and is not revealed by the seller, then a purchaser could commence a legal claim for losses as a result of such an inaccurate response. The buyer’s lawyers may also carry out an enviro search. This will indicate if there is any known flood risk. If so, more detailed inquiries should be made.
How does conveyancing in Llanbrynmair differ for new build properties?
Most buyers of new build or newly converted property in Llanbrynmair approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is constructed. This is because house builders in Llanbrynmair typically purchase the land, 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 accustomed to new build conveyancing in Llanbrynmair or who has acted in the same development.
I am selling my home. My previous solicitors has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Llanbrynmair if that affects matters.
Do use our search tool to help you find a solicitor for your conveyancing in Llanbrynmair. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
What type of conveyancing matters do Llanbrynmair conveyancing organisations supply?
Most Llanbrynmair conveyancing organisations manage to handle various services to residential and agricultural land owners, vendors, investors, freeholders and leaseholders including the following:
-
Property sale conveyancing in Llanbrynmair and elsewhere in the country
Property purchase conveyancing in Llanbrynmair and nationwide
First registrations Tenancy and licence agreements lifetime mortgages and equity release conveyancing Drafting in respect of rights of drainage, services, and access (Easements)