My wife and I are refinancing our penthouse in Port Talbot with Co-operative. We have a son approaching twenty who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this form unique to the Co-operative conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights 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 Co-operative. This is solely used to protect Co-operative 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 Co-operative 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 am aiming to move house in January. Will my conveyancing solicitor update the removal company on the completion day. Incidentally, can you put forward a removal company in Port Talbot. Conveyancing firm was chosen before I stumbled across this page.
On the afternoon of completion you can pick up the keys from your property agent however this should only happen once the previous owners lawyers advise the agent that they acknowledge receipt of the completion payment and the keys can be collected. After that you should advise the removal company that they can start moving you in. As a matter of policy we do not recommend a specific removal company but can assist you in locating a residential property solicitor in Port Talbot or a legal practice with expertise in conveyancing in Port Talbot.
I'm the only beneficiary of my late father’s will with all property in now in my sole name, including the house in Port Talbot. Conveyancing formalities meant that the Land Registry date was in September. I plan to dispose of the house. I do know about the CML six month 'rule', meaning my proprietorship will be considered the same way as though I had purchased the property in September. Is the property unsalable for six months?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. many banks would take a pragmatic view as this requirement chiefly exists to capture subsales or the wholesaling and assigning of properties.
I currently have a mortgage with Santander for my property in Port Talbot. Conveyancing was finalised some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Santander?
Your original mortgage agreement with Santander will provide that you need their approval prior to renting your property as this is likely to be a breach of Santander’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Santander directly. It should not be necessary to do this via a Santander conveyancing panel solicitor.
I have been told that property searches are the main cause of delay in Port Talbot house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are not likely to feature in any delay in conveyancing in Port Talbot.
I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Port Talbot is where the house is located. Is there any guidance you can impart?
Flying freeholds in Port Talbot are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Port Talbot you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Port Talbot may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Is there anything unique about your site and alternative internet conveyancing brokers for conveyancing in Port Talbot?
At this site secure an accurate costs illustration via a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in Port Talbot. Unlike many estate agents and brokerage sites we do not have commission deals with solicitors. Many agents and online brokers 'recommend' the firm paying the most per referral, as opposed to the best value conveyancing in Port Talbot
We are thinking of appointing an online solicitor as opposed to a Port Talbot conveyancing firm. Any advice?
Numerous benefits exist in being able to visit a local Port Talbot conveyancing solicitor such as
- signing papers on short notice
- having one on one explanations of issues that you need help with
- the ability to complain if things go pear-shaped
When analysing quotes, look carefully for hidden extras. Most decent Port Talbot high street solicitors give an all-inclusive price. Many online agents seem to offer low cost prices, yet have hidden 'extras' in the fine print.