My wife and I intend to remortgage our flat in Charing Cross with Clydesdale. We have a son 18 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, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this form unique to the Clydesdale conveyancing panel as he never had to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Clydesdale 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 Clydesdale. This is solely used to protect Clydesdale 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 Clydesdale 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.
I am assisting my step-mother sell her house in Charing Cross. Does the solicitor commission an energy performance certificate or it is for me to see to?
After the abolition of Home Information Packs, energy performance certificates was kept a mandatory element of selling a house. An energy assessment should be to hand in advance of the property being advertised. This is not something that law firms ordinarily arrange. Where you are using a Charing Cross conveyancing solicitor they might be willing to arrange energy assessments due to their contacts with reputable local accredited person
When it comes to lenders such as Nottingham, do Charing Cross property lawyers have to pay a yearly amount to be on the list of approved solicitors?
We are unaware of any bank fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I can not work out if my bank requires a lease extension. I have called into my local Charing Cross bank branch on various occasions and was reassured it wasn't a problem and they will lend. My Charing Cross conveyancing solicitor - who is on the bank conveyancing panel- called to say that they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The property lawyer must comply with the Council of Mortgage Lenders’ Handbook section two requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Various online forums that I have frequented warn that are the main cause of delay in Charing Cross conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of holding up conveyancing in Charing Cross.
I am looking for a flat up to £235,500 and found one close by in Charing Cross I like with a park and transport links nearby, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Charing Cross suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the shortness of the lease will be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
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I've found a house that seems to meet my requirements, at a great figure which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Charing Cross. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Charing Cross ?
The majority of houses in Charing Cross are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Charing Cross so you should seriously consider shopping around for a Charing Cross conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should advise you fully on all the issues.
Having spent years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Charing Cross. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Charing Cross conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Charing Cross flat is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case was in relation to 1 flat. The unexpired term as at the valuation date was 73.26 years.