My fiance and I are refinancing our penthouse in Llangefni with UBS. We have a son 18 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the UBS conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this compromise his entitlement 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 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.
It is a dozen years since I purchased my home in Llangefni. Conveyancing solicitors have recently been instructed on the sale but I can't locate the deeds. Will this jeopardise the sale?
You need not be too concerned. First there is a chance that the deeds will be retained by your lender or they may stored with the conveyancers who acted in the purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining current official copies of the land registers. The vast majority of conveyancing in Llangefni relates to registered property but in the unlikely event that your home is not registered it adds to the complexity but is not insurmountable.
I am purchasing a property in Llangefni. One unusual aspect is that the roof has a solar panel. HSBC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with HSBC your lawyer must comply with the conveyancing requirements outlined in Part two of UK Finance Lenders’ Handbook for HSBC. The CML Handbook includes minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to HSBC where a lease does not meet these provisions. The specifications relate to the installation of panels on properties nationwide and is not restricted to Llangefni.
I have today made my last payment due on my mortgage with Aldermore. I assume I don't need a Llangefni lawyer on the Aldermore panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
About to purchase house in Llangefni. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the TSB conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Llangefni conveyancer is on the TSB conveyancing panel.
Just had an offer accepted on a new build apartment in Llangefni. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Llangefni
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. 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.
I am one month into a residential purchase having been directed to conveyancers by the selling agent to execute conveyancing in Llangefni. I am am starting to be frustrated with the quality of service. Could you help me find new conveyancers?
A solicitor would need to be really bad in order to consider replacing them. Has the mortgage been generated? If so you need to advise them of the new contact details and ensure the mortgage documents are issued to the new lawyers. Your new conveyancer needs to be on the lenders approved list to avoid added expenses and delays. So that should be your starting point. Our search tool will assist you in finding a bank approved conveyancer for your conveyancing in Llangefni
Having had my offer accepted I require leasehold conveyancing in Llangefni. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Llangefni - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a garden flat in Llangefni, conveyancing having been completed in 2007. Can you work out an approximate cost of a lease extension? Equivalent flats in Llangefni with an extended lease are worth £265,000. The ground rent is £50 yearly. The lease ceases on 21st October 2102
You have 76 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.