My wife and I intend to remortgage our maisonette in Cardigan with Santander. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this document specific to the Santander conveyancing panel as he did not need to sign this form when we bought 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 Santander 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 Santander. This is solely used to protect Santander 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 Santander 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 property lawyer in Cardigan is not listed on the Barnsley Building Society Solicitor Panel. Can I still retain my prefered solicitor even though they are excluded from the Barnsley Building Society approved list?
The limited options available to you here include:
- Complete the purchase with your preferred Cardigan lawyers but Barnsley Building Society will need to instruct a conveyancer on their list of acceptable firms. This will result in additional overall conveyancing fees and cause frustration.
- Choose a new practitioner to act in the conveyancing, obviously checking they are Barnsley Building Society approved.
- Try to convince your Barnsley Building Society solicitor to seek to join the Barnsley Building Society panel
I have recentlybeen informed that Arc property Solicitors have been shut down. They conducted my conveyancing in Cardigan for a purchase of a leasehold apartment 10 months ago. How can I establish that my home is in my name in the name of the former proprietor?
The quickest method to check if the premises is registered to you, you can carry out 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 Cardigan conveyancing specialists.
About to purchase a new build flat in Cardigan. 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 legal work.
Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Cardigan
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are architect prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Over the last few months I have been searching for a leasehold apartment up to £305k and found one near me in Cardigan I like with a park and station nearby, however it's only got 49 years unexpired on the lease. There is not much else in Cardigan suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan that many years will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
My husband and I are 3 weeks into a freehold purchase having been directed to conveyancers by the local agent to carry out the conveyancing in Cardigan. I am am very disappointed with the quality of service. Could you help me find new lawyers?
They would need to be really bad in order to consider diss instructing them. Has your mortgage offer been generated? If so you need to make them aware of the replacement solicitor and have the mortgage documents are re-issued. Your new solicitor ideally needs to be on the mortgage company approved list to avoid added charges and delays. That should be your starting point. Our search tool can assist you in finding a bank approved lawyer for your home move in Cardigan