My wife and I are refinancing our maisonette in Archway with Kent Reliance. We have a son approaching twenty who lives with us. Our solicitor requested us to identify 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, giving up any rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the Kent Reliance conveyancing panel as he never had to sign this form when we bought 3 years ago (2) Does our son by signing this compromise his rights to inherit the property?
First, rest assured that your Kent Reliance 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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.
Is there a search tool that I can utilise to find out if the solicitor carrying out my conveyancing in Archway is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for National Westminster Bank thus paying £187.00 plus VAT in additional legal fees.
Please do take advantage of the find a lender approved solicitor tool on this site. Please choose the lender and type ‘Archway’ or your preferred area and you will see numerous conveyancers offices in Archway or near you.
I am downsizing from our property in Archway and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A high street Archway lawyer would know this is not the case. For the life of me I don't know why the purchasers are using an online conveyancing firm as opposed to a conveyancing solicitor in Archway. Having lived in Archway for 4 years we know of no issue. Do we get in touch with our local Authority to obtain clarification that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Are there restrictive covenants that are commonly identified during conveyancing in Archway?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Archway. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a leasehold apartment up to £245,000 and found one round the corner in Archway I like with amenity areas and transport links nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Archway for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan that many years will be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I am buying a ground floor maisonette in Archway. Conveyancing solicitor has been waiting for, from the vendor, building insurance paperwork. Earlier today I was advised that the owner needs to forward the insurance paperwork for the flat above as well. Why does my solicitor need to see the insurance for the flat above? Is it strictly required? We have been in hold for the previous month…
It is not impossible in leasehold conveyancing in Archway to find Conveyancing in Archway in a minority of cases reveals that the lease requires the tenant's to insure their individual flats rather than the freeholder insuring the complete building - which is clearly better. You should contact your property lawyer but it would seem that your conveyancer is seeking to establish that the complete building is insured. Insuring your flat is no help when it comes to rebuilding after a fire if the other flat cannot be reconstructed for lack of insurance.