My fiance and I are refinancing our penthouse in Pentraeth with Clydesdale. 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. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Clydesdale conveyancing panel as he did not need to sign this form when we bought 3 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 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.
Are the BSA intent on creating a online directory to to identify firms on the Loughborough BS conveyancing panel for example in Pentraeth?
We are not aware of any plans on the part of the BSA to promote such a tool.
I bought my home on 4 June and my personal details is not yet on the land registry website. Should I be concerned? My conveyancing solicitor in Pentraeth expressed confidence that it should be dealt with in a couple of weeks. Are transfers in Pentraeth uniquely lengthy to register?
As far as conveyancing in Pentraeth registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can adjust subject to the party submitting the application, whether it is in order and whether the Land registry must send notices to any other persons or bodies. Currently in the region of 80% of such applications are completed in less than three weeks but occasionally there can be protracted delays. Registration occurs after the new owner has moved in to the premises therefore 'speed' is not always top priority yet where there is a degree of urgency associated with the registration then you or your conveyancer must communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Pentraeth differ for newly converted properties?
Most buyers of new build or newly converted property in Pentraeth contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Pentraeth tend to purchase the site, 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 conveyancing solicitors 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 Pentraeth or who has acted in the same development.
How can the Landlord & Tenant Act 1954 impact my business premises in Pentraeth and how can you help?
The 1954 Act affords security of tenure to commercial lessees, granting the dueness to apply to court for a new lease and remain in occupation at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and assist with commercial conveyancing in Pentraeth