My fiance and I intend to remortgage our maisonette in Pontprennau with Co-operative. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this document specific to the Co-operative 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?
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 Co-operative. This is solely used to protect Co-operative 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 Co-operative 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.
What does my ID and proof of funds have anything to do with my conveyancing in Pontprennau? What am I being asked for?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with prior to agreeing to accepting their conveyancing retainer. The Client Care letter that you are required to sign should reaffirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. If you are unwilling to supply identification documents, your conveyancer would not be able to accept instructions from you.
My wife and I buying a 3 bedroom semi in Pontprennau. Our aim is to carry out a loft conversion at the property.Will legal conveyancing on the property involve investigations to determine if these works were previously refused?
Your solicitor should review the registered title as conveyancing in Pontprennau will sometimes identify restrictions in the title deeds which restrict certain changes or need the permission of a 3rd party. Many works need local authority planning permissions and approval in accordance building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be wise to check these issues with a surveyor before you commit yourself to a purchase.
I had a mortgage agreed in principle with Coventry BS. Pontprennau conveyancing practitioners were instructed. How long does it take for Coventry BS to send the offer to the solicitor?
Some lenders take longer than others. Have Coventry BS conducted the valuation? Have you advised Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Having digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Pontprennau solicitor - who is on the Barclays conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Pontprennau surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Pontprennau I like with amenity areas and transport links in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Pontprennau suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the shortness of the lease may be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
I am looking to sell my house. My past lawyers have shut. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Pontprennau if that makes things easier.
Do use our search tool to help you choose a solicitor for your conveyancing in Pontprennau. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
What are the frequently found problems that you witness in leases for Pontprennau properties?
There is nothing unique about leasehold conveyancing in Pontprennau. All leases are individual and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts. Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Chelsea Building Society, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.
Pontprennau Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying
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How many of the leaseholders are in arrears for their service charge payments? Who is in charge of the building? Does the lease include onerous restrictions?