My husband and I swapping mortgage lender for our flat in Haverhill with Leeds Building Society. We have a son 18 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of concerns (1) Is this document specific to the Leeds Building Society conveyancing panel as he did not need to sign this form when we remortgaged 5 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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 own a freehold residence in Haverhill yet pay rent, why is this and what is this?
It’s unusual for properties in Haverhill and has limited impact for conveyancing in Haverhill but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I have recentlydiscovered that Stirling Law have closed. They conducted my conveyancing in Haverhill for a purchase of a leasehold flat 12 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The easiest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Haverhill conveyancing specialists.
I decided to have a survey completed on a property in Haverhill before instructing solicitors. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some banks will not issue a mortgage on this type of home.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Haverhill. Conveyancing may be slightly more expensive based on your lender's requirements.
I am looking into buying my first house which is in Haverhill and I am already nervous. I couldn't find anything specific about Haverhill. Conveyancing will be needed in due course but do you know about the Haverhill area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Haverhill. In the meantime here are some basic statistics that we found
We expect to complete our sale of a £175,000 apartment in Haverhill next Friday. The managing agents has quoted £360 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Haverhill?
Haverhill conveyancing on leasehold apartments typically involves administration charges invoiced by management companies :
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Completing conveyancing due diligence enquiries
Where consent is required before sale in Haverhill
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I bought a ground floor flat in Haverhill, conveyancing was carried out March 1997. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Haverhill with an extended lease are worth £176,000. The ground rent is £50 levied per year. The lease terminates on 21st October 2104
With 80 years left to run the likely cost is going to be between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.