My fiance and I intend to remortgage our penthouse in St Asaph with Barclays. We have a son approaching twenty 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. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is repossessed. I have two concerns (1) Is this form unique to the Barclays conveyancing panel as he never had to sign this form when we bought 3 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.
We are buying a terrace house in St Asaph. The intention is to carry out a loft conversion at the house.Will the conveyancing process include checks to see if these works are prohibited?
Your property lawyer should check the deeds as conveyancing in St Asaph will on occasion reveal restrictions in the title deeds which prevent categories of alterations or require the permission of another owner. Many extensions call for local authority planning consent and approval in compliance with building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be wise to check these things with a surveyor before you commit yourself to a purchase.
I am the only recipient of my late father’s estate and I have everything in my name alone, including the house in St Asaph. The St Asaph property was put into my name in June. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship may be considered the same way as if I'd bought the house in June. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. How practical a view banks take of it, depend on the bank as this obligation is chiefly there to identify the purchase and immediately sell or the wholesaling and assigning of property.
I am selling my apartment. I had a double glazing fitted in August 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Nottingham are being difficult. The St Asaph solicitor who is on the Nottingham conveyancing panel is saying indemnity insurance will be fine but Nottingham are requiring a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
It has been three months following my purchase conveyancing in St Asaph completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 property 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.
Just had an offer accepted on a new build apartment in St Asaph. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in St Asaph
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan.
Due to the advice of my in-laws I had a survey completed on a property in St Asaph before appointing lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some lenders will refuse to grant a mortgage on a flying freehold property.
It varies from the lender to lender. Santander has different instructions from Halifax. If you contact us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in St Asaph. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in St Asaph to see if the conveyancing will be more expensive.
I am a negotiator for a long established estate agency in St Asaph where we have witnessed a number of flat sales jeopardised due to short leases. I have been given inconsistent advice from local St Asaph conveyancing solicitors. Please can you confirm whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that 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. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.
I invested in buying a ground floor flat in St Asaph, conveyancing formalities finalised 7 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in St Asaph with over 90 years remaining are worth £176,000. The ground rent is £50 charged once a year. The lease expires on 21st October 2106
With only 80 years left to run the likely cost is going to range between £8,600 and £9,800 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.