My husband and I swapping mortgage lender for our flat in Prestatyn with Barclays. 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. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have two questions (1) Is this document specific to the Barclays conveyancing panel as he did not need to sign this form when we remortgaged 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 Barclays 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 Barclays. This is solely used to protect Barclays 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 Barclays 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.
My colleague recommended that if I am buying in Prestatyn I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Prestatyn conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Prestatyn around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Prestatyn Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information about Prestatyn.
I have justbeen informed that Arc property Solicitors have closed. They carried out my conveyancing in Prestatyn for a purchase of a freehold house 10 months ago. How can I check that the property is registered correctly in the name of the previous owner?
The easiest method to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Prestatyn conveyancing specialists.
I opted to have a survey carried out on a property in Prestatyn before instructing solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies tend refuse to issue a mortgage on such a house.
It varies from the lender to lender. Santander has different requirements for example to Halifax. If you contact us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Prestatyn. Conveyancing may be slightly more expensive based on your lender's requirements.
In surfing the world wide web for the phrase conveyancing in Prestatyn it shows results of many conveyancersin the area. How do I determine which is the suitable property lawyer for me?
The preferential method of seeking a suitable conveyancer is via personal recommendation, so ask friends and those you trust who have bought a property in Prestatyn or the respected estate agent or financial adviser. Fees for conveyancing in Prestatyn differ, so it's advisable to request at least four fee estimates from varying types of companies. Be sure to obtain confirmation that the fees are fixed.
Last March I purchased a leasehold flat in Prestatyn. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Prestatyn Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
-
Is anyone aware of any major works on the horizon that will add a premium to the service costs? Does the lease have onerous restrictions?