My wife and I are refinancing our penthouse in Wrexham with Bank of Ireland. We have a son approaching twenty who lives at home. Our solicitor requested us to identify anyone over the age of 17 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 property is repossessed. I have two questions (1) Is this form unique to the Bank of Ireland 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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 lawyer has informed me that flying freehold insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Wrexham?
The appropriate level of flying freehold indemnity insurance should be dictated by who who your lender is. It would differ for example between Halifax and Skipton Building Society. Conveyancing lawyers as opposed to borrowers take out such insurances.
We have agreed to purchase a house in Wrexham. One unusual aspect is that the roof has a solar panel. Santander have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Santander your lawyer must follow the conveyancing requirements outlined in Part 2 of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and solicitors are required to report to Santander where a lease fails to satisfy these conditions. The specifications relate to the installation of panels on properties countrywide and is not isolated to Wrexham.
Nationwide have agreed my mortgage in principle, my offer on a apartment in Wrexham has been accepted, what are the next steps?
Your estate agent will need to know who your solicitors are (ensure that the lawyers are on the bank’s approved list). Call up Nationwide or the broker and finish off any relevant forms. Nationwide will instruct a valuer who will get in contact with the selling agent or vendor to arrange an appointment. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Nationwide will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Wrexham.
Me and my brother own a 4 bedroom Georgian property in Wrexham. Conveyancing solicitor represented me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wrexham and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing practitioner who carried out the work.
I'm buying my first flat in Wrexham with a mortgage from Lloyds TSB Bank. The developers would not move on the price so I negotiated 6k of additionals instead. The sale representative advised me not reveal to my lawyer about the side-deal as it could jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I want to let out my leasehold apartment in Wrexham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in Wrexham do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I purchased a 1 bedroom flat in Wrexham, conveyancing having been completed in 2009. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Wrexham with an extended lease are worth £265,000. The ground rent is £50 invoiced every year. The lease terminates on 21st October 2101
You have 76 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
It may have been a long time coming a loan offer from a mortgage company for the refinancing of my 4 bedroom garden flat is to be issued any day now. Could you recommend an efficient remortgage conveyancing practitioner in Wrexham ?
You have come to the wrong place to search for the cheapest conveyancing in Wrexham. Our aim is to provide value for money conveyancing but we do not advertise as being the cheapest. Avoid the trap of appointing companies offering £99 conveyancing in Wrexham.At best, in going for cheap conveyancing, you will get what you pay for and at worst you will end up being stung for additional fee and still not get the service you were hoping for.