My husband and I changing mortgage lender for our maisonette in Bradford On Avon with UBS. We have a son 18 who lives at home. 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, giving up any rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this form unique to the UBS conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong 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 UBS. This is solely used to protect UBS 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 UBS 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.
A colleague suggested that where I am buying in Bradford On Avon I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Bradford On Avon conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Bradford On Avon around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bradford On Avon Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Bradford On Avon Education with maps and statistics, Local Amenities and other useful data concerning Bradford On Avon.
It has been 4 months following my purchase conveyancing in Bradford On Avon concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a ground for flat up to £305k and found one close by in Bradford On Avon I like with a park and transport links nearby, however it's only got 51 remaining years left on the lease. There is not much else in Bradford On Avon in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage that many years will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
Due to complete next month on a garden flat in Bradford On Avon. Conveyancing lawyers assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Bradford On Avon should include some of the following:
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Ground rent - what is payable and what the invoice dates are, and also know whether this is subject to change Repair and maintenance of the flat You should be told what counts as a Nuisance as far as the lease is concerned The unexpired lease term. You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years Whether the lease restricts you from renting out the property, or working from home
Bradford On Avon Leasehold Conveyancing - Examples of Queries before Purchasing
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Its a good idea to find out as much as you can regarding the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to practical issues such as the upkeep of the communal areas. You should not be afraid to ask other people what they think of them. On a final note, be sure you know the dates that the service charges are due to the relevant party and specifically what you get for your money. Is the freehold reversion owned collectively by the tenants? What is the name of the managing agents?
I purchased a flat in Bradford On Avon last 4/6/2024 and to date it is still not recorded with HMLR. It is part of a development site and my solicitor told me that it may take 12 months to complete the registration formalities. I have contacted the Land Registry directly and they say that the initial application was cancelled due to failure to reply to requisitions. Do I need to be concerned?
It is your solicitor that you should get in touch with in order to satisfy any questions which have arisen as part of the registration process for your Bradford On Avon property. Normal Bradford On Avon conveyancing practice includes an undertaking on the part of the vendor’s lawyer that they will assist in resolving any requirements raised by HMLR so it may be a case of taking action to enforce that undertaking if necessary.