My wife and I intend to remortgage our apartment in Nunhead with Santander. We have a son 18 who lives with us. 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 property is forfeited by the lender. I have two questions (1) Is this form unique to the Santander conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Santander conveyancing panel solicitor is doing the right thing 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 Santander. This is solely used to protect Santander 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 Santander 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 just had an offer accepted to purchase with Earl Shilton BS. We have called around locally but am struggling to find a Nunhead conveyancing firm on the Earl Shilton BS panel. Can you assist?
Please do take advantage of the find a lender approved solicitor tool on this site. Pick the building society and type Nunhead or your preferred area and you will see numerous solicitors based in Nunhead or by proximity to you.
How does conveyancing in Nunhead differ for newly converted properties?
Most buyers of new build residence in Nunhead contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because builders in Nunhead typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Nunhead or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Nunhead before instructing solicitors. I have been told that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies may not give a loan on this type of premises.
It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Nunhead. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Nunhead to see if the conveyancing will be more expensive.
Estate agents have just been given the go-ahead to market my ground floor apartment in Nunhead. Conveyancing solicitors are to be appointed soon, but I have recently received a half-yearly maintenance charge demand – what should I do?
It best that you discharge the invoice as you normally would because all ground rent and service payments should be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until 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 own a ground floor flat in Nunhead. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
You certainly can. We can put you in touch with a Nunhead conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Nunhead premises is 41 Endwell Road in March 2013. this matter relateed to the acquisition of the freehold of a mid- terraced Victorian house converted into three separate self-contained dwellings. By an order dated 28/11/2012, Deputy District Judge Cole in the Bromley County Court held that the leaseholders were entitled to acquire the freehold and directed that the premium payable be determined by this Tribunal. The Tribunal assessed the premium to be £14,753 This case affected 3 flats. The unexpired lease term was 80.01 years.
I am due to assess estimates for conveyancing in Nunhead from various lawyer and choose one. Should I tell them to sit tight until I have found somewhere to purchase.
You should wait to ask your conveyancing practitioner to open a file and submit searches after the offer has been accepted on the property particularly as Nunhead conveyancing searches are costly.