My partner and I are refinancing our apartment in Salford with Yorkshire BS. We have a son approaching twenty who lives at home. Our solicitor requested us to identify any adults 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 two concerns (1) Is this form unique to the Yorkshire BS conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
First, rest assured that your Yorkshire BS 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 Yorkshire BS. This is solely used to protect Yorkshire BS 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 Yorkshire BS 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.
Various web forums that I have come across warn that are a common cause of stalling in Salford house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Salford.
How does conveyancing in Salford differ for newly converted properties?
Most buyers of new build residence in Salford approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Salford tend to purchase the real estate, 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 Salford or who has acted in the same development.
In my capacity as executor for the will of my uncle I am disposing of a residence in Monmouth but I am based in Salford. My conveyancer (approximately 235 kilometers awayhas requested that I execute a stat dec before completion. Can you recommend a conveyancing solicitor in Salford to witness and place their company stamp on the document?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are Salford based
Having checked my lease I have discovered that there are only 68 years unexpired on my flat in Salford. I now wish to get lease extension but my landlord is missing. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you have used your best endeavours to track down the lessor. In some cases an enquiry agent should be helpful to try and locate and to produce a report to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the application to the County Court covering Salford.
Leasehold Conveyancing in Salford - A selection of Questions you should consider before Purchasing
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Can you inform me if there are any major works anticipated that could increase the maintenance costs? What prohibitions are there in the Salford Lease? It is important to be aware if fixing the lift or some other major work is anticipated that will be shared amongst the leaseholders and will dramatically impact the level of the service costs or result in a one off invoice.
I pay a service charge for my property in Salford. As a result of flawed financial planning I slipped into arrears with remittance. I negotiated a settlement plan but there is still a couple of outstanding at the current time.
I now wish to dispose of the property and I am nervous that this could jeopardize the sale if I have to settle the arrears now. Do I have to settle before - is this possible?
Your solicitor will hopefully be able to negotiate with the appropriate parties, with a new to seeing if they would accept settlement out of the completion monies. Here is indicative of why it might be good to appoint a property lawyer in Salford as they may well enjoy an established relationship with the parties.