My husband and I changing mortgage lender for our penthouse in Perivale with Kent Reliance. We have a son 19 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 property is repossessed. I have a couple of questions (1) Is this form unique to the Kent Reliance conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your Kent Reliance 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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.
I am the registered owner of a freehold property in Perivale yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Perivale and has limited impact for conveyancing in Perivale but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Just acquired a detached house in Perivale , how long will it take for the Land Registry to deal with the formalities evidencing my ownership? My Perivale conveyancing solicitor has been painfully slow, so I want to be certain the land registry aspects are dealt with.
As far as conveyancing in Perivale is concerned, registration is no quicker or slower than the rest of the country. Rather than based on location, timeframes can differ depending on who lodges the application, whether it is in order and whether the Land registry must send notices to any third persons or bodies. Currently approximately three quarters of submission are fully dealt with within 12 days but occasionally there can be protracted delays. Registration occurs after the new owner is living at the property so an expedited registration is not usually an essential issue yet where it is urgent that the the registration takes place urgently then you or your solicitor should speak with the land registry and explain the circumstances.
How does conveyancing in Perivale differ for new build properties?
Most buyers of new build or newly converted property in Perivale approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is completed. This is because developers in Perivale typically buy the land, 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 conveyancing solicitors 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 Perivale or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a simple, chain free conveyancing. Perivale is the location of the property. Can you offer any opinion?
Flying freeholds in Perivale are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Perivale you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Perivale may decide 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 premises.
I'm converting the mortgage on my primary property to a BTL loan with Britannia and I will use the rest of the raised equity towards another property. The neighborhood we are looking at is Perivale. Will your conveyancers be able to act for both sets of lenders and tie in the conveyances?
Make use of our comparison tool on this page to ensure that the solicitors are approved by both banks. Having checked that they are the solicitor will be able to simultaneously deal with the two transactions but you should talk with you lawyer and make apparent your desired outcome and requirements.