My partner and I intend to remortgage our penthouse in Kingsdown with Aldermore. We have a son approaching twenty 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 property is forfeited by the lender. I have two questions (1) Is this document specific to the Aldermore 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 Aldermore. This is solely used to protect Aldermore 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 Aldermore 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.
My uncle informed me that in buying a property in Kingsdown there may be various restrictions limiting what one can do in terms of external alterations to a property. Is this right?
There are a number of properties in Kingsdown which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Kingsdown should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to mortgage companies such as Leeds Building Society, do Kingsdown lawyers face a fee to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
Planning on purchasing a maisonette in Kingsdown. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Yorkshire BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Kingsdown conveyancer is on the Yorkshire BS conveyancing panel.
My wife and I own a terraced Edwardian house in Kingsdown. Conveyancing solicitor represented me and Santander. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the exact same property. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Kingsdown and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing solicitor who conducted the work.
I am downsizing from my house. My previous conveyancers have shut. I would be grateful for any recommendation of a conveyancing firm. Im based in Kingsdown if that affects matters.
Please use our search tool to help you find a solicitor for your conveyancing in Kingsdown. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
My husband and I are first time buyers - agreed a price, yet the agent told us that the seller will only move forward if we instruct the agent's preferred lawyers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a family solicitor used to conveyancing in Kingsdown
We suspect that the owner is unaware of this demand. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Contact the vendors directly and make sure they understand (a)you are serious purchasers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you are going to instruct your preferred Kingsdown conveyancing lawyers - not the ones that will give the estate agent a introducer fee or achieve conveyancing figures demanded by corporate headquarters.
Last December I purchased a leasehold property in Kingsdown. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Kingsdown Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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The best form of lease structure is if the freehold title is in the ownership of the leaseholders. In this arrangement the tenants enjoy control and notwithstanding that a managing agent is usually retained where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. What is the the remaining lease term? If a Kingsdown lease has no more than eighty years it will have adverse implications on the marketability of the flat. It is worth checking with your lender that they are content with the length of the lease. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and it is worth finding out how much this would cost. For most Kingsdownlease extensions you will need to own the premises for 24 months in order to be eligible to exercise a lease extension.