My wife and I are refinancing our flat in Kelvedon with Coventry BS. We have a son approaching twenty who lives with us. 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 property is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Coventry BS conveyancing panel as he never had 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 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.
Why is leasehold purchase conveyancing in Kelvedon costs more?
In short, leasehold conveyancing in Kelvedon and elsewhere usually requires additional hours of investigation compared to freehold conveyancing. This includes analysing the lease terms, communicating with the landlord concerning serving appropriate notices, securing current service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
The mortgage over my property is with Principality for my property in Kelvedon. Conveyancing has been completed months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Principality?
Your original mortgage agreement with Principality will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. It should not be necessary to do this via a Principality conveyancing panel firm.
Completion of my remortgage has taken place for my property in Kelvedon. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Kelvedon bank branch on a couple of occasions and was informed it wasn't an issue and they would lend. My Kelvedon conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend based on their specific requirements. Who do I believe?
As long as the conveyancer is on the bank panel, they must adhere to the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the lender 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Kelvedon is the location of the property. Can you offer any assistance?
Flying freeholds in Kelvedon are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kelvedon you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kelvedon 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.
My cousin has encouraged me to appoint his conveyancing solicitors in Kelvedon. Should I choose my own solicitor?
No doubt the best way to select a conveyancing solicitor is to have feedback from friends or relatives who have actually previously instructed the firm you're considering.
My mum and dad are experiencing difficulties in finding their Kelvedon land registry title on the online search facility. They have a vague recollection back in the 70’s when they bought the house there were complications regarding Kelvedon not being identified on some systems.
Almost all residences in Kelvedon should appear. Have you limited your search to just the postcode. Normally it should mention all the premises within that postcode. Where registered it will show up with a title number. Where they bought 48 years ago it's conceivable it may be unregistered. The address might still be revealed but with the title number shown 'na'. In this scenario you will need to track down the original title papers which might be with your parent’s lender.