I am acquiring a ground floor flat in New Beckenham. My lawyer has never been on on the mortgage company approved list. Can I still retain my New Beckenham conveyancing solicitor even though they are excluded from the mortgage company panel?
One will need to use a lawyer to complete the formalities if you take out a mortgage to purchase your property. They will conduct all the necessary investigations on the property, ensuring that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in order. One may appoint a New Beckenham lawyer of your choosing. However, where the solicitor selected is not a member of the bank conveyancing panel supplemental fees will arise as separate legal representation will be need by the mortgage company. Bank panel applications may be submitted, so if your lawyer has not in the past applied for membership they should do so.
My partner and I are refinancing our maisonette in New Beckenham with Principality. We have a son 18 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have two concerns (1) Is this document specific to the Principality conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this extinguish his entitlement 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 Principality. This is solely used to protect Principality 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 Principality 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.
Is there a reason why leasehold purchase conveyancing in New Beckenham costs more?
The conveyancing charges on a leasehold premises in New Beckenham is frequently more expensive than on a freehold residence. This is due to the additional investigations necessary in communicating with the freeholder and managing agents to obtain evidence about whether the rent and service fee have been cleared and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the block.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. New Beckenham is where the house is located. Can you offer any opinion?
Flying freeholds in New Beckenham are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in New Beckenham 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 New Beckenham may determine 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £375,000 maisonette in New Beckenham next week. The management company has quoted £420 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in New Beckenham?
New Beckenham conveyancing on leasehold apartments usually involves fees being raised by managing agents :
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Completing conveyancing due diligence questions
Where consent is required before sale in New Beckenham
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a New Beckenham conveyancing firm to represent me?
in cases where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to calculate the amount due.
An example of a Freehold Enfranchisement case for a New Beckenham residence is 26 Manor Road in July 2010. the Tribunal decided that price to be paid for the freehold was £12,420 This case was in relation to 2 flats. The unexpired lease term was 76.75 and 88.83.
As a leasehold owner I am on the hook for a service charge for my flat in New Beckenham. As a result of poor financial planning I slipped into arrears with remittance. I negotiated a settlement plan but there is still around £3000 remaining in arrears.
I want to sell and I am panicking this can jeopardize the sale if I have to pay off the arrears now. I'd like to sell up and then discharge the arrears from the completion monies - is this viable?
It would be wise to clarify with the property lawyer handling your New Beckenham conveyancing but one option could be to agree for the outstanding amount to be passed to the buyers. The purchase price they pay would be adjusted to reflect the amount of debt they take on. They would then discharge the fees once they are the owners.