My partner and I intend to remortgage our flat in Becontree Heath with Nationwide. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults 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 forfeited by the lender. I have a couple of questions (1) Is this form unique to the Nationwide conveyancing panel as he did not need to sign this form when we remortgaged 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 Nationwide 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 Nationwide. This is solely used to protect Nationwide 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 Nationwide 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.
We are buying a apartment in Becontree Heath. I might seem paranoid but how we can trust a lawyer? At some point we have to put funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am being told by my lawyer that breach of easement insurance is required on my purchase. What is the level of cover for Becontree Heath conveyancing?
The right level of breach of easement indemnity insurance depends on who your lender is. It would differ for example between HSBC Bank and Leeds Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.
I have instructed a Becontree Heath conveyancing practitioner having checked that they are on the Nationwide conveyancing panel. Does my lawyer arrange the survey of the property?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Becontree Heath postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in Becontree Heath.
I am buying a new build house in Becontree Heath with the aid of help to buy. The sellers refused to budge the amount so I negotiated 6k of additionals instead. The property agent told me not inform my solicitor about this deal as it could put at risk my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking into buying my first house which is in Becontree Heath and I am already nervous. I couldn't find anything specific about Becontree Heath. Conveyancing will be needed in due course but do you know about the Becontree Heath area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Becontree Heath. In the meantime here are some basic statistics that we found
As co-executor for the estate of my grandfather I am disposing of a property in Newport but live in Becontree Heath. My solicitor (approximately 300 kilometers from meneeds me to execute a stat dec prior to the transaction finalising. Can you recommend a conveyancing solicitor in Becontree Heath to witness and place their company stamp on the document?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are Becontree Heath based
I inherited a ground floor flat in Becontree Heath. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
if there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to determine the price payable.
An example of a Lease Extension decision for a Becontree Heath flat is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case was in relation to 1 flat. The unexpired term as at the valuation date was 61.36 years.
What makes a Becontree Heath lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Becontree Heath. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:
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A provision to repair to or maintain parts of the building Insurance obligations
You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Leeds Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.