My wife and I are refinancing our penthouse in Hockley with Lloyds. We have a son approaching twenty who lives at home. Our solicitor requested us to identify anyone over the age of 17 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 apartment is repossessed. I have two concerns (1) Is this form unique to the Lloyds conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Lloyds 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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 planning to move home in October. Should my conveyancing solicitor communicate with the removal company on the day of completion. On a separate note, can you put forward a removal company in Hockley. Conveyancing firm was organised before I stumbled across your page.
On the day of completion you can collect the keys from the selling agent however this should only happen after the sellers lawyers inform the agent that the monies to complete are in and the keys can be given over. Subsequently you should advise the removal company that they can start moving you in. As a matter of policy we do not suggest a particular removal organisation but can help you locate a conveyancing in Hockley or a lawyer that specialises in conveyancing in Hockley.
Are all Hockley Conveyancing Quality Solicitors on the Nottingham conveyancing list of approved practices?
Some major lenders now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
I recently had an offer agreed on a house in Hockley. My mortgage broker suggested a conveyancing practitioner. I paid an advanced payment of £150. Shortly after, the lawyer contacted me embarrassingly acknowledging that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Hockley?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Hockley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Hockley differ for new build properties?
Most buyers of new build premises in Hockley contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is built. This is because house builders in Hockley tend to buy the real estate, 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 conveyancers 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 accustomed to new build conveyancing in Hockley or who has acted in the same development.
Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Hockley I like with a park and transport links nearby, the downside is that it's only got 49 years on the lease. There is not much else in Hockley in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the shortness of the lease may be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
In what way does the Landlord & Tenant Act 1954 affect my business property in Hockley and how can you help?
The 1954 Act affords protection to business tenants, giving them the a statutory right to apply to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Hockley is one of the numerous locations in which our lawyers are based