My husband and I are refinancing our penthouse in Shipley with Yorkshire BS. We have a son 19 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. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Yorkshire BS conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this compromise his rights 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 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.
We wanted to use a conveyancing solicitor in Shipley for our house move. Our financial adviser informed us that our bank TSB won't deal with them. Why is this not regarded as unduly restrictive?
Before the recession most mortgage companies had a different appetite for risk. Almost all Shipley conveyancing firms would have been on most lender panels. The Financial Services Authority in 2010 carried out a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms regarding their operations and their employees as well as establishing certain criteria such a completing on a minimum volume of conveyancing. Many Shipley conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Shipley is amongst the many locations where the conveyancers we list are on the panel for TSB.
What can a local search inform me about the house we're purchasing in Shipley?
Shipley conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Xpress Legal The local search plays a central role in most Shipley conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your property. The search should provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Shipley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Shipley. 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…’
How difficult is it to change solicitor as I have to select one who is on the Nottingham Building Society conveyancing list. I hired a local conveyancing solicitor in Shipley five minutes from me but the firm is not accepted by Nottingham Building Society
It would be our pleasure to assist you find a conveyancing solicitor in Shipley on the Nottingham Building Society panel. Please note that the solicitors that we work with do not pay us a referral fee if you instruct them and are under regulation of the Solicitors Regulation Authority who regulate all conveyancing solicitors in Shipley. Using search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Shipley.
I have just started marketing my 2 bed apartment in Shipley. Conveyancing is yet to be initiated, however I have recently received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the invoice as usual given that all ground rent and service charges should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Shipley Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
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Please note that where the lease has less than 80 years it will impact the value of the flat. Check with your lender that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will probably need a lease extension at some point and it is worth discovering how much this will be. For most Shipleylease extensions you would need to own the property for two years in order to be legally able to extend the lease. It would be wise to discover as much as you can about the company managing the block as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to daily issues like the tidiness of the communal areas. Ask other people whether they are happy with them. On a final note, be sure you understand the dates that you are obliged pay the maintenance charge to the relevant party and specifically how they are spending that money. For most Shipley leaseholds the outlay for major works tend not to be built into the service charges, albeit that a few managing agents in Shipley obliged leaseholders to pay into a reserve fund and this is used to offset against major repairs or maintenance.