My partner and I intend to remortgage our penthouse in Potters Bar with Lloyds. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Lloyds conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Lloyds 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Potters Bar?
There are many registered licenced Conveyancers in Potters Bar and Solicitor practices in Potters Bar who provide Conveyancing services We would stress that both are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. The two can handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
This question may be naive but I am new to the home moving as FTB of a ground floor flat in Potters Bar. Do I collect the keys to the premises on completion from my conveyancer? If this is the case, I will find a High Street conveyancing solicitor in Potters Bar?
On the day of completion you will not be required to go to the conveyancers office in Potters Bar. Conveyancing lawyers for you will electronically transfer the completion advance to the owner’s conveyancers, and once they have received this, you should be called to pick up the keys from the selling Agents and start moving into the property. Usually this occurs early afternoon.
We have a mortgage agreed in principle with Virgin Money. Potters Bar conveyancing solicitors are selected. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
Some lenders take longer than others. Have Virgin Money completed the valuation? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
My wife and I are selling our property in Potters Bar and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any high street Potters Bar conveyancer would know this is not the case. It does beg the question why the buyers are using an internet conveyancing practice as opposed to a conveyancing solicitor in Potters Bar. Having lived in Potters Bar for 4 years we know that this is a non issue. Do we contact our local Authority to obtain confirmation that the buyers are looking for.
It would appear that you have a conveyancing firm already. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one close by in Potters Bar I like with amenity areas and station in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Potters Bar suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
I need to retain a conveyancing solicitor for some conveyancing in Potters Bar. I've land on a web site which seems to have the ideal solution If it is possible to get all this stuff completed via web that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I own a leasehold flat in Potters Bar. Conveyancing and Halifax mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Potters Bar who previously acted has now retired. Any advice?
First contact HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Potters Bar conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Potters Bar conveyancing firm to assist?
You certainly can. We can put you in touch with a Potters Bar conveyancing firm who can help.
An example of a Lease Extension case for a Potters Bar property is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case was in relation to 1 flat. The unexpired term was 76 years.