My partner and I swapping mortgage lender for our apartment in Pattingham with Principality. We have a son approaching twenty who lives with us. 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 flat is repossessed. I have a couple of concerns (1) Is this document specific to the Principality 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 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.
We note that you have a search directory listing firms on the Kent Reliance conveyancing panel. Do firms pay you a referral fee if I appoint them for our own conveyancing in Pattingham?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Pattingham.
Are there restrictive covenants that are commonly identified as part of conveyancing in Pattingham?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Pattingham. 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…’
Over the last few months I have been searching for a flat up to £305k and found one close by in Pattingham I like with amenity areas and transport links nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Pattingham suitable, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage that many years will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
I am a sole trader wishing to lease a unit on the high street. Can you recommend conveyancers offering competitive fees for commercial conveyancing in Pattingham for below 2k?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Pattingham, including the disposal and purchase of businesses as well as simply premises. Whether you are looking to buy or lease a shop, pub, restaurant, office, retail premises or a complete business we can put you in touch with the right lawyer. Regarding the charges these will vary based on the structure and nuances of the proposed transaction. Please provide us with your contact information or email us so that we can furnish you with a fixed commercial conveyancing quote.
Last January I purchased a leasehold property in Pattingham. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, 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).
Pattingham Leasehold Conveyancing - Examples of Questions you should ask before buying
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Best to be warned whether changing the roof or some other significant cost is due in the foreseeable future that will be shared by the leaseholders and could well dramatically impact the level of the service fees or necessitate a specific invoice. Is the freehold reversion owned jointly by the leaseholders? Be sure to enquire if there are any onerous prohibitions in the lease. For instance some leases prohibit pets being permitted in in a block in Pattingham. If you love the apartmentin Pattingham however your dog can’t move with you then you will be presented with a hard choice.