My husband and I are refinancing our apartment in Shefford with Principality. We have a son 19 who lives at home. Our solicitor requested us to identify 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 flat is repossessed. I have a couple of questions (1) Is this document specific to the Principality 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 Principality 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 Principality. This is solely used to protect Principality 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 Principality 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.
We are buying a house and require a conveyancing solicitor in Shefford who is on the Principality approved panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Principality . We don't recommend any particular firms conducting conveyancing in Shefford.
I am purchasing a property and the conveyancer has raised the issue of Chancel Repair to which the house could be liable given it’s proximity to the area of such a church. He has mentioned insurance. Is this really required for conveyancing in Shefford
Unless a prior acquisition of the premises took place after 12 October 2013 you may take it that lawyers conducting conveyancing in Shefford to remain encouraging a chancel search and or insurance against a claim.
It has been three months following my purchase conveyancing in Shefford took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Estate agents have just been given the go-ahead to market my basement flat in Shefford. Conveyancing is yet to be initiated, but I have recently received a half-yearly service charge invoice – Do I pay up?
It best that you clear the maintenance contribution as usual because all rents and service charges will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Shefford - Sample of Questions you should ask before buying
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Who manages the building? Generally speaking the cost for major works tend not to be incorporated into the maintenance charges, although a few managing agents in Shefford ask leaseholders to contribute towards a reserve fund and this is used to offset against major works.
I am soon to complete buying a property in Shefford but as a result of wreckage from the recent storms I have agreed reparation from the owner of four thousand pounds by way of a deduction in the price. I had intended this to be addressed as part of the conveyancing process but my lender will not permit this. Why were they approached?
Your lawyer that is on the bank conveyancing panel is required to inform the mortgage company of any variations to the purchase price. If you prohibit your conveyancer to report the price change to your lender then they would have no choice but to discontinue acting for you and the bank.