My fiance and I are refinancing our maisonette in Osidge with Clydesdale. 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, giving up any rights in the event that the apartment is repossessed. I have a couple of concerns (1) Is this document specific to the Clydesdale conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your Clydesdale 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 Clydesdale. This is solely used to protect Clydesdale 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 Clydesdale 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 do I have to pay up front when it comes to conveyancing in Osidge?
Where you are retaining lawyers for conveyancing in Osidge your solicitor will ask you place them with monies to cover the search fees. Generally this is called for to cover the fees of the Local Authority Search. If any deposit is payable against the purchase price then this will be required shortly in advance of exchange of contracts. Any further balance that is due should be sent to your lawyer a couple of days prior to the day of completion.
I'm at the point of viewing flats in Osidge and I am about to put in an offer. Should I already have a property lawyer appointed at this point? I am planning to take a mortgage with Leeds Building Society.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. As you are getting a mortgage with Leeds Building Society, make sure you remember to check that your lawyer is on the Leeds Building Society conveyancing panel.
I am currently in the process of buying my council flat in Osidge. I have a mortgage agreed with Nationwide. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in June 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Co-operative are being pedantic. The Osidge solicitor who is on the Co-operative conveyancing panel is saying indemnity insurance will be fine but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The estate agent has sent us the confirmation of our purchase of a new build flat in Osidge. Conveyancing is a frightening process 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 selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Osidge
-
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one round the corner in Osidge I like with a park and station nearby, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Osidge suitable, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage that many years will likely be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years 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 and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
In my capacity as executor for the estate of my aunt I am selling a property in Monmouth but I am based in Osidge. My solicitor (who is 235 miles awayneeds me to execute a statutory declaration before completion. Can you recommend a conveyancing practitioner in Osidge who can witness and place their company stamp on the document?
Technically speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are located in Osidge