My fiance and I changing mortgage lender for our apartment in Narberth with TSB. 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. 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 a couple of concerns (1) Is this document specific to the TSB conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) Does our son by signing this compromise his rights to inherit the property?
First, rest assured that your TSB 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 TSB. This is solely used to protect TSB 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 TSB 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.
I had intended to instruct a conveyancing solicitor in Narberth for our house move. Our financial adviser informed us that our mortgage company Bank of Scotland won't deal with them. Surely this is unfair competition?
A mortgage company can require an approved conveyancer act for it. Borrowers are expected to bear the charges for this. Please make use of our directory service to locate a solicitor to conduct conveyancing in Narberth on the Bank of Scotland approved list of solicitors.
What is the difference between a licensed conveyancer and conveyancing solicitor in Narberth
There are many recorded licenced Conveyancers in Narberth and Solicitor firms in Narberth who can assist with your conveyancing We would stress that the two are regulated professionals specialising in the legal work in transferring property. Both can conduct other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
We were going to get a AIP from Bank of Ireland this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Narberth solicitors on the Bank of Ireland conveyancing panel, or is it better to go independently?
You will need to appoint Narberth solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
I am due to exchange contracts on my apartment. I had a double glazing fitted in November 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Aldermore are being difficult. The Narberth solicitor who is on the Aldermore conveyancing panel is recommending indemnity insurance as a solution but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when acquiring a house in Narberth?
Unless a prior purchase of the premises completed after 12 October 2013 you could assume that lawyers carrying out conveyancing in Narberth to remain recommending a chancel search and or chancel repair liability policy.
Are there restrictive covenants that are commonly picked up during conveyancing in Narberth?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Narberth. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
About to purchase a new build flat in Narberth. Conveyancing is daunting 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.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Narberth
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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? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? 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.