Much to our surprise we have been informed by our estate agent that my Radyr lawyer is not on the lender Conveyancing panel. How can I be sure whether this is correct?
The first thing you need to do is to contact your Radyr conveyancer. You lawyer should notify you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
My wife and I intend to remortgage our penthouse in Radyr with Principality. We have a son 18 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have a couple of questions (1) Is this form unique to the Principality conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this extinguish 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 Principality. This is solely used to protect Principality 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 Principality 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 buying a new build apartment in Radyr. 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 selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Radyr
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Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are architect prepared.
I am looking for a leasehold apartment up to £195,000 and identified one near me in Radyr I like with open areas and transport links in the vicinity, the downside is that it's only got 61 years on the lease. There is not much else in Radyr for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the remaining unexpired lease term may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
I was advised by two or three local selling agents in Radyr to choose a solicitor using your seach tool. What’s the financial inducement for Estate Agents to recommend your site over a competitor’s?
We refuse to give any referral fee for sending work our way. We found it would be just too difficult to pay a commission as members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
We're FTB’s - agreed a price, but the agent has warned us that the vendor will only move forward if we instruct the agent's chosen conveyancers as they want a ‘quick sale’. We would rather use a local conveyancer who is familiar with conveyancing in Radyr
We suspect that the seller is not behind this requirement. If they require ‘a quick sale', alienating a genuine purchaser is not the way to achieve this. Speak to the vendors direct and make sure they comprehend that (a)you are motivated purchasers (b)you are ready to go, with finances arranged © you are chain free (d) you wish to move quickly (e)however you will continue to appoint your own,trusted Radyr conveyancing solicitors - not the ones that will give the estate agent a commission or meet his conveyancing targets set by head office.