My partner and I intend to remortgage our apartment in Eastney and Southsea with RBS. We have a son approaching twenty 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. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this form unique to the RBS conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this giving up his entitlement 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 RBS. This is solely used to protect RBS 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 RBS 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.
What does my ID and proof of funds have anything to do with my conveyancing in Eastney and Southsea? Why is this being asked of me?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to check the identification documents of the potential client they are dealing with before they can accept their conveyancing instruction. The Terms and Conditions that you need to sign will no doubt stipulate this. Your lender will also require certain documents to be checked. If you refuse to supply ID verification documents, your lawyer would not be able to accept instructions from you.
I used Action Conveyancing a few years ago for my conveyancing in Eastney and Southsea. Now, I need the files however the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Eastney and Southsea of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Eastney and Southsea is where the house is located. Can you offer any assistance?
Flying freeholds in Eastney and Southsea are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Eastney and Southsea you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Eastney and Southsea may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Expecting to exchange soon on a ground floor flat in Eastney and Southsea. 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 Eastney and Southsea should include some of the following:
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You should know whether the lease allows you to change or upgrade aspects of the premises- you must be made aware as to whether any restrictions applies to all alterations or just structural alteration, and whether consent is mandated necessary You should be sent a copy of the lease The total ownership of the premises. This will be the flat itself but could also include a roof area or basement if relevant. You need to be informed what counts as a Nuisance as far as the lease is concerned
I own a garden flat in Eastney and Southsea, conveyancing having been completed July 2012. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Eastney and Southsea with a long lease are worth £265,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease runs out on 21st October 2100
You have 75 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
I am purchasing a flat and cash is in place. My conveyancer has been given with two distinct proof of photo identification, bank statement, multiple utility bills. Now he needs a copy from a probate lawyer acknowledging that the funds are legitimate and that it has come from inheritance and not via illegitimate means.
In today’s world you will not be able to complete any Eastney and Southsea conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Proof of your source of funds is required under Money Laundering Regulations.