My wife and I intend to remortgage our penthouse in Pitsea with RBS. We have a son 19 who lives with us. Our solicitor has asked us to disclose any adults 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 document specific to the RBS conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your RBS 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 RBS. This is solely used to protect RBS 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 RBS 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.
My uncle passed away six months ago and as sole heir and executor I was left the property in Pitsea. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this possible?
If you plan to refinance then Leeds Building Society will insist on your using a conveyancer on the Leeds Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Leeds Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Leeds Building Society mortgage is registered as a charge at the Land Registry.
I have a 4 bedroom Georgian property in Pitsea. Conveyancing lawyer acted for me and Barnsley Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Pitsea and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with the conveyancing practitioner who conducted the conveyancing.
How does conveyancing in Pitsea differ for newly converted properties?
Most buyers of new build or newly converted property in Pitsea approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Pitsea 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 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 used to new build conveyancing in Pitsea or who has acted in the same development.
My husband and I are first time buyers - agreed a price, yet the selling agent informed us that the seller will only issue a contract if we appoint the agent's chosen conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a local conveyancer with experience of conveyancing in Pitsea
It is improbable the vendors are driving this. Should the vendor require ‘a quick sale', turning down a genuine buyer is counter productive. Avoid the agents and go straight to the owners and make sure they comprehend that (a)you are keen to buy (b)you are ready to progress, with finances in place © you are unencumbered (d) you wish to move quickly (e)however you intend to appoint your own,trusted Pitsea conveyancing firm - not the ones that will provide the estate agent a referral fee or meet his conveyancing figures pre-set by senior management.
I am in need of some leasehold conveyancing in Pitsea. Before I get started I would like to find out the remaining lease term.
Assuming the lease is registered - and most are in Pitsea - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Pitsea - Sample of Queries before buying
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The prefered form of lease arrangement is where the freehold interest is in the ownership of the leaseholders. In this scenario the leaseholders benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently retained if the building is larger than a house conversion, the managing agent is directed by the tenants. How is the lease structured?