My partner and I swapping mortgage lender for our maisonette in Welwyn Garden City with Yorkshire BS. We have a son 18 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document 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 Yorkshire BS conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) Does our son by signing this giving up his rights 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 Yorkshire BS. This is solely used to protect Yorkshire BS 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 Yorkshire BS 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.
Various internet forums that I have come across warn that are the main cause of delay in Welwyn Garden City conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of delay in conveyancing in Welwyn Garden City.
Just had an offer accepted on a new build apartment in Welwyn Garden City. Conveyancing is a frightening process 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 conveyancing.
Here is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Welwyn Garden City
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I am looking for a leasehold apartment up to £305k and found one near me in Welwyn Garden City I like with amenity areas and transport links nearby, the downside is that it only has 51 remaining years left on the lease. There is not much else in Welwyn Garden City for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan that many years will likely be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
I have been recommended by a number of selling agents in Welwyn Garden City to locate a conveyancer on your site. Is there a financial incentive for Estate Agents to offer your services over and above a competitor’s?
We refuse to offer any referral fee for directing people in our direction. We thought it would be too underhand to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Is it best to go with a Welwyn Garden City conveyancing practitioner based in the vicinity that I am buying? We have a good friend who can handle the legal work but they are based 200miles drive away.
The benefit of a local Welwyn Garden City conveyancing practice is that you can visit the firm to execute documents, present your ID and apply pressure on them where appropriate. Having local Welwyn Garden City know how is a benefit. That being said it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and on the whole were happy that must trump using an unknown Welwyn Garden City conveyancing lawyer just because they are based in the area.