My partner and I are refinancing our penthouse in Cardigan with Clydesdale. We have a son 19 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment 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 purchased 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Clydesdale 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 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.
What will a local search inform me concerning the house my wife and I buying in Cardigan?
Cardigan conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations for instance Searches UK The local search is essential in every Cardigan conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your property. The search will reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
Have purchased a a semi-detached house in Cardigan , What is the estimated time for the Land Registry to record the transfer to my name? My Cardigan conveyancing solicitor has been painfully slow, so I want to be certain that my purchase is registered.
There is nothing unique when it comes to conveyancing in Cardigan registration formalities. Rather than based on location, timeframes can differ subject to who lodges the application, whether there are errors and whether the Land registry need to notify any 3rd persons or bodies. As of today approximately 80% of submission are fully addressed within 12 days but occasionally there can be longer hold-ups. Historically registration takes place after the buyer has moved in to the property therefore 'speed' is not typically an essential issue yet if it is urgent that the the registration takes place urgently then you or your conveyancer must speak with the land registry and explain the circumstances.
How does conveyancing in Cardigan differ for new build properties?
Most buyers of new build residence in Cardigan contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is completed. This is because developers in Cardigan 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 Cardigan or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a simple, chain free conveyancing. Cardigan is where the house is located. What do you suggest?
Flying freeholds in Cardigan are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cardigan you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cardigan may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.