My partner and I are refinancing our flat in Fareham with Kent Reliance. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Kent Reliance conveyancing panel as he never had to sign this form when we purchased 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 Kent Reliance 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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.
How up to date is your database of Fareham solicitors on the Yorkshire BS conveyancing panel? Do Yorkshire BS send you an updated list?
Fareham conveyancing firms themselves provide us confirmation that they are on the Yorkshire BS conveyancing panel as opposed to being supplied with a list from Yorkshire BS directly.
3 months have elapsed since my purchase conveyancing in Fareham took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. 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 property 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've recently found out 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 simple, no chain conveyancing. Fareham is the location of the property. Can you shed any light on this issue?
Flying freeholds in Fareham are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Fareham you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fareham 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.
How can the Landlord & Tenant Act 1954 affect my business premises in Fareham and how can your lawyers assist?
The 1954 Act affords security of tenure to commercial tenants, granting the legal entitlement to make a request to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Fareham is one of our numerous locations in which our lawyers have offices
We are 17 days into a residential purchase having been referred to a firm by the local agent to do our conveyancing in Fareham. I am am very disappointed with the quality of service. Could you help me find new lawyers?
They would have to be really bad to suggest diss instructing them. Has your loan offer been issued? If so you must inform them of the new solicitor and ensure the loan are issued to the new lawyers. The conveyancer needs to be on the mortgage company panel to avoid added charges and delays. That should be your first question of the new conveyancers. Our find a solicitor tool will assist you in finding a bank approved lawyer for your conveyancing in Fareham