My partner and I are refinancing our flat in Caerphilly with Aldermore. We have a son approaching twenty who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this document specific to the Aldermore 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 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 Aldermore. This is solely used to protect Aldermore 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 Aldermore 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.
Does a directory service exist listing Nottingham panel conveyancers in Caerphilly on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lenders make their panel listings open the public over the internet. Where you are seeking to appoint a Caerphilly property lawyer on the Nottingham please make the most of our facility.
is it true that all Caerphilly solicitor practices on the Kent Reliance conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Kent Reliance conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. The majority of mortgage companies do permit licenced conveyancers on their panel in which case such organisation would be regulated by the Council of Licensed Conveyancers.
We expect to receive a AIP from Skipton this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Skipton recommend any Caerphilly solicitors on the Skipton conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Caerphilly solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in Caerphilly I like with a park and railway links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Caerphilly in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the shortness of the lease will likely be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 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 existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
In scouring the world wide web for the words conveyancing in Caerphilly it shows results of numerous solicitorsin the vicinity. With so much choice what is the best way to find the suitable property lawyer for my move?
The preferential method of finding a suitable conveyancer is via trusted referral, so seek the guidance of friends and family who have acquired a property in Caerphilly or a local estate agent or mortgage broker. Charges for conveyancing in Caerphilly vary, so it's advisable to secure a minimum of three estimates from different law firms. Be sure to seek confirmation what costs in the quote includes.
Are you able to clarify what my options are where my Caerphilly conveyancing searches reveals negative results?
Normally, the majority of issues that arise in Caerphilly conveyancing search results can be handled before completion or indemnity insurance can be put in place. It is crucial to remember that even though you may be acquiring the property and may be content to accept the search results, your building society or bank may not, and ultimately the decision rests with them.