My wife and I are refinancing our maisonette in Aberystwyth with Lloyds. We have a son 18 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is repossessed. I have two questions (1) Is this form unique to the Lloyds conveyancing panel as he did not need to sign this form when we bought 4 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 Lloyds 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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 your site be used to locate a Conveyancing solicitor in Aberystwyth even where I’m not purchasing or disposing of a house, for example if I wish to acquire a shop in Aberystwyth with a mortgage from Nottingham Building Society?
Our search tool is primarily there to find domestic conveyancing solicitors in Aberystwyth but we have set out towards the end of this page a few Aberystwyth commercial conveyancing firms. You will need to enquire with the firm directly to see if they can also act for Nottingham Building Society
I used Arc property Solicitors a few years past for my conveyancing in Aberystwyth. Now, I need my documents however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Aberystwyth of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a ground for flat up to £235,500 and identified one close by in Aberystwyth I like with amenity areas and railway links nearby, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Aberystwyth for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the shortness of the lease may be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
Am I best advised to instruct a Aberystwyth conveyancing practitioner based in the location that I am purchasing? I have an old university friend who can perform the legal work however they are based 200miles away.
The benefit of a high street Aberystwyth conveyancing practice is that you can pop in to execute paperwork, deliver your ID and apply pressure on them if necessary. They will also have local insight which is a plus. However it's more important to get someone that will do a good and efficient job. If other friends have used your friend and they were impressed that must outweigh using an unknown Aberystwyth conveyancing lawyer just because they are round the corner.