My fiance and I intend to remortgage our flat in Ulverston with Principality. We have a son 19 who lives at home. 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 concerns (1) Is this form unique to the Principality conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this compromise his rights to inherit the property?
First, rest assured that your Principality conveyancing panel solicitor is doing the right thing 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 understand that there are debates on Chancel Insurance on online forums. Do I require this when buying a residence in Ulverston? or Apparently there is historic law that could mean that owners of property living in a parish church boundary will be compelled to contribute towards maintenance towards the chancel within the church. Is this relevant for conveyancing in Ulverston?
Unless a previous purchase of the house took place post 12 October 2013 you could take it that solicitors conducting conveyancing in Ulverston to remain recommending a chancel search and or insurance against a claim.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The conveyancers who handled the conveyancing in Ulverston 10 years ago have long since closed. What are my options?
Assuming the title is registered the details of your proprietorship will be evidenced by HMLR under a Title Number. It is possible to conduct a search at the Land Registry, locate your property and get up to date copies of the Registered Entries for less than a fiver. Where the property is Leasehold then the Land Registry will usually retain a certified duplicate of the Registered Lease and again, a copy can be obtained for twenty pounds.
I am looking for a ground for flat up to £245,000 and identified one close by in Ulverston I like with amenity areas and railway links in the vicinity, however it's only got 49 years unexpired on the lease. I can't really find anything else in Ulverston for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage the shortness of the lease may be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you could ask them to start the process of the extension 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 consult your conveyancing solicitor about this matter.
Given that I will soon part with hundreds of thousands of pounds on a house in Ulverston I wish to have a conversation with the solicitor about mytransaction before giving the go ahead to the firm. Can this be arranged?
Absolutely - we would be delighted to talk to you we do not take any clients on without you first talking to the conveyancer who will be conducting your conveyancing in Ulverston.There is no ‘factory style conveyancing’ - each client is an important person, not a case number. The solicitors that we put you in touch with believe that the figure you are quoted for your conveyancing in Ulverston should be the amount on the final invoice that you end up paying.