My partner and I are refinancing our penthouse in Barnetby le Wold with Principality. 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 lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of questions (1) Is this form unique to the Principality conveyancing panel as he never had 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 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.
My wife and I are close to exchanging contracts on the sale of our property in Barnetby le Wold and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A local lawyer would know this is not the case. It does beg the question why the buyers instructed a national conveyancing practice rather than a conveyancing solicitor in Barnetby le Wold. We have lived in Barnetby le Wold for three years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to obtain clarification need.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You should 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 life insurance to cover that same ailment)
Me and my brother own a terraced Georgian property in Barnetby le Wold. Conveyancing solicitor represented me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Barnetby le Wold and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing lawyer who conducted the work.
Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Barnetby le Wold I like with a park and railway links nearby, however it only has 61 years unexpired on the lease. There is not much else in Barnetby le Wold suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
I am one month into a leasehold purchase having been directed to a firm by the selling agent to do our conveyancing in Barnetby le Wold. We are not happy. Could you you assist me in finding new lawyers?
A solicitor would need to be very bad in order to consider diss instructing them. Has the mortgage been sent? In the event that it has you must advise them of the new contact details and ensure the loan are issued to the new lawyers. Your solicitor ideally needs to be on the lenders panel to avoid escalating charges and delays. That should be your starting point. Our find a solicitor tool can help you find a lender approved lawyer for your conveyancing in Barnetby le Wold
What advice can you give us when it comes to finding a Barnetby le Wold conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Barnetby le Wold conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Barnetby le Wold conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be of use:
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How experienced is the firm with lease extension legislation?
Barnetby le Wold Leasehold Conveyancing - Examples of Queries before buying
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Does the lease contain onerous restrictions? Is anyone aware of any major works in the planning that will likely increase the maintenance costs? Its a good idea to find out as much as you can about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to day to day matters such as the upkeep of the common parts. You should not be afraid to ask prospective neighbours what they think of them. In conclusion, investigate as to the dates that the service fees are due to the managing agents and specifically how they are spending the funds.