My partner and I intend to remortgage our flat in Grangetown with UBS. We have a son 19 who lives at home. 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 property is repossessed. I have two questions (1) Is this document specific to the UBS conveyancing panel as he never had to sign this form when we bought 5 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 UBS 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 UBS. This is solely used to protect UBS 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 UBS 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 friend advised me that if I am buying in Grangetown I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Grangetown conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Grangetown around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information regarding Grangetown.
How does conveyancing in Grangetown differ for new build properties?
Most buyers of new build property in Grangetown contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in Grangetown usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Grangetown or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one near me in Grangetown I like with a park and transport links in the vicinity, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Grangetown suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
Taking into account that I will soon part with 450k on a property in Grangetown I wish to have a conversation with the lawyer about myhome move prior to giving the go ahead to the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you liaising with the conveyancer who will be conducting your property ownership legalities in Grangetown.There is no ‘factory style conveyancing’ - every client is unique individual, not a file number. The practices that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Grangetown should be the amount on the final invoice that you are charged.
What are the compelling benefits to instructing a local conveyancing practitioner in Grangetown
Lots of house movers in Grangetown decide on using a nearby high street property lawyer so that they can visit in the event that they have concerns, and to execute paperwork rather than depending on the post.
There is a distinct advantage when opting for a lawyer nearby to a premises you are purchasing, due to the knowledge of the area and possible local concerns - yet this is moot. Most conveyancers are now via the web and could be practically anywhere.