My wife and I are refinancing our flat in Pencader with Clydesdale. We have a son 18 who lives with us. Our solicitor requested us to identify 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 flat is repossessed. I have two questions (1) Is this document specific to the Clydesdale conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) Does our son by signing this compromise 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 Clydesdale. This is solely used to protect Clydesdale 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 Clydesdale 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 completed on my home on 5 May and the transaction details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Pencader said it would be concluded in less than a month. Are properties in Pencader particularly slow to register?
There is nothing unique when it comes to conveyancing in Pencader registration formalities. As opposed to being determined by geographic area, timeframes can differ depending on who lodges the application, whether it is in order and whether the Land registry communicate with any other persons or bodies. Currently in the region of three quarters of such applications are fully dealt with within two weeks but occasionally there can be protracted hold-ups. Registration occurs once the new owner has moved in to the premises thus registration formalities is not typically primary concern yet where it is urgent that the the registration takes place urgently then you or your lawyers must speak with the land registry and explain the circumstances.
Just had an offer accepted on a new build apartment in Pencader. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Pencader
Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I am downsizing from my property. My former solicitors have shut. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Pencader if that affects matters.
You should use our search tool to help you find a solicitor for your conveyancing in Pencader. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
I am tempted by the attractive purchase price for a two maisonettes in Pencader both have in the region of 50 years unexpired on the leases. Do I need to be concerned?
There are plenty of short leases in Pencader. The lease is a right to use the property for a period of time. As a lease gets shorter the value of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field.
I invested in buying a leasehold flat in Pencader, conveyancing having been completed in 2006. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Pencader with an extended lease are worth £216,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2089
With 69 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.