My husband and I are refinancing our flat in Llangollen with Coventry BS. We have a son 19 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. 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 two questions (1) Is this document specific to the Coventry BS conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) In signing this form is our son in any way compromising his right 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 Coventry BS. This is solely used to protect Coventry BS 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 Coventry BS 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.
Can you point me to a directory of Nationwide panel conveyancers in Llangollen on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. A small selection of mortgage companies make their panel listings viewable on the web. If you are seeking to appoint a Llangollen conveyancer on the Nationwide please use our facility.
I am buying a property in Llangollen. A rare aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Coventry BS your lawyer must check the formal instructions set out in Part 2 of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook sets out minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to Coventry BS where a lease fails to comply with these requirements. The specifications relate to the installation of panels on properties in England and Wales and is not restricted to Llangollen.
About to purchase house in Llangollen. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays 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 Llangollen property lawyer is on the Barclays conveyancing panel.
I am close to exchanging contracts on the sale of our home in Llangollen and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any high street Llangollen conveyancer would know this is not the case. For the life of me I don't know why the buyers instructed a national conveyancing outfit rather than a conveyancing solicitor in Llangollen. Having lived in Llangollen for many years we know of no issue. Is it a good idea to contact our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
How does conveyancing in Llangollen differ for newly converted properties?
Most buyers of new build property in Llangollen approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is finished. This is because developers in Llangollen typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Llangollen or who has acted in the same development.
I am on look out for some leasehold conveyancing in Llangollen. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Llangollen - 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 bought a ground floor flat in Llangollen, conveyancing having been completed 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Llangollen with over 90 years remaining are worth £175,000. The ground rent is £65 per annum. The lease terminates on 21st October 2083
With 58 years remaining on your lease we estimate the premium for your lease extension to range between £21,900 and £25,200 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.