My wife and I are refinancing our penthouse in Crewkerne with Santander. We have a son 18 who lives at home. Our solicitor requested us to identify 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 property is repossessed. I have a couple of concerns (1) Is this document specific to the Santander conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right 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 Santander. This is solely used to protect Santander 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 Santander 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.
Please explain the implications if my solicitor is expelled from the TSB Conveyancing panel ahead of completing my conveyancing in Crewkerne?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
How does conveyancing in Crewkerne differ for newly converted properties?
Most buyers of new build premises in Crewkerne contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is completed. This is because builders in Crewkerne typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Crewkerne or who has acted in the same development.
What does commercial conveyancing in Crewkerne cover?
Non domestic conveyancing in Crewkerne incorporates a broad array of advice, given by qualified solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I am 3 weeks into a residential purchase having been referred to a firm by the local agent to execute conveyancing in Crewkerne. I am am extremely frustrated with the level of service. Could you you assist me in finding new solicitors?
They would need to be very poor in order to consider changing them. Has your mortgage been generated? In the event that it has you need to inform them of the new contact details and get the offer are issued to the new lawyers. The solicitor ideally needs to be on the banks approved list to avoid escalating expenses and complications. That should be your starting point. The search tool should assist you in finding a lender approved conveyancer for your home move in Crewkerne
Back In 2006, I bought a leasehold house in Crewkerne. Conveyancing and Virgin Money mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Crewkerne who acted for me is not around. Do I pay?
First contact the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Crewkerne conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Crewkerne Conveyancing for Leasehold Flats - A selection of Queries before buying
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It would be a good idea to enquire if there are any onerous restrictions in the lease. By way of example plenty of leases prohibit pets being permitted in in a block in Crewkerne. If you like the apartmentin Crewkerne however your dog is not allowed to live with you then you have a very difficult compromise. Best to be warned whether a new roof is being installed or some other significant cost is anticipated to be shared by the leasehold owners and may well materially impact the level of the service charges or require a specific invoice. The best form of lease structure is a share of the freehold. In this scenario the tenants benefit from control and even though a managing agent is usually employed where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves.