My husband and I intend to remortgage our apartment in Lower Sunbury with Nottingham. We have a son approaching twenty 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 apartment is repossessed. I have a couple of concerns (1) Is this form unique to the Nottingham conveyancing panel as he never had to sign this form when we bought 3 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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.
Are there restrictive covenants that are commonly identified during conveyancing in Lower Sunbury?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Lower Sunbury. 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…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Lower Sunbury. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Lower Sunbury
-
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one close by in Lower Sunbury I like with amenity areas and station nearby, however it only has 51 years on the lease. I can't really find anything else in Lower Sunbury in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the shortness of the lease may be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
In what way can the Landlord & Tenant Act 1954 impact my business premises in Lower Sunbury and how can you help?
The 1954 Act gives a safeguard to business leaseholders, giving them the dueness to make a request to court for a renewal lease and remain in occupation at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Lower Sunbury is one of our numerous locations in which our lawyers have offices
In searching the world wide web for the term on line conveyancing in Lower Sunbury it shows results of numerous conveyancerslocally. With so much choice what is the best way to find the suitable conveyancing solicitor for me?
The preferential method of choosing the right conveyancer is via trusted recommendation, so seek the counsel of friends and those you trust who have purchased a property in Lower Sunbury or a reputable estate agent or financial adviser. Charges for conveyancing in Lower Sunbury differ, so it's advisable to secure at least four quotes from varying types of law firms. Make sure that you know what costs in the quote includes.