My husband and I intend to remortgage our penthouse in Honor Oak with Coventry BS. We have a son 19 who lives at home. Our solicitor has asked us to disclose 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, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Coventry BS conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this compromise his rights 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 Coventry BS. This is solely used to protect Coventry BS 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 Coventry BS 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.
We see that you have a post code search directory listing firms on the UBS conveyancing panel. Do firms pay you a referral fee if I retain them for our own conveyancing in Honor Oak?
We are a listing service only for law firms wishing to communicate if they are on the UBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Honor Oak.
Two weeks ago we had a mortgage agreed in principle with RBS. Honor Oak conveyancing lawyers are appointed. How long does it take for RBS to send the offer to the solicitor?
Some lenders take longer than others. Have RBS conducted the valuation? Have you informed RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I can not fathom if my bank requires a lease extension. I have telephoned my Honor Oak building society branch on various occasions and was informed it wasn't a problem and they will lend. My Honor Oak conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their published requirements. I have no idea who is right.
As long as the conveyancer is on the lender panel, they must adhere to the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I was told three weeks ago that my mortgage has been agreed to by Yorkshire BS. Is it usual for Yorkshire BS to only issue the offer once my solicitor in Honor Oak is approved on their conveyancing panel? Yorkshire BS have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Yorkshire BS to deal with your lawyer's application to be on the Yorkshire BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have todaybecome aware that Action Conveyancing have closed. They conducted my conveyancing in Honor Oak for a purchase of a leasehold flat 9 months ago. How can I establish that the property is registered correctly in the name of the previous owner?
The quickest method to see if the premises is in your name, 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 Honor Oak conveyancing specialists.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Honor Oak is the location of the property. What do you suggest?
Flying freeholds in Honor Oak are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Honor Oak you must be sure that your lawyer goes 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 Honor Oak 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 property.
I have just started marketing my basement flat in Honor Oak. Conveyancing has not commenced, however I have recently had a quarterly service charge demand – what should I do?
The sensible thing to do is clear the maintenance contribution as you normally would as all rents and service payments will be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Honor Oak conveyancing firm to represent me?
You certainly can. We are happy to put you in touch with a Honor Oak conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Honor Oak property is Flat 1 40-42 Ewelme Road in August 2012. the Tribunal assessed the premium for the lease extension in the sum of £11,800 This case affected 1 flat. The unexpired lease term was 61.81 years.