My husband and I intend to remortgage our flat in Slade Green with Leeds Building Society. We have a son 18 who lives at home. 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 apartment is repossessed. I have two questions (1) Is this form unique to the Leeds Building Society conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Leeds Building Society 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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'm buying a new build house in Slade Green with a mortgage from The Mortgage Works. The builders would not budge the price so I negotiated £7000 of extras instead. The estate agent suggested that I not reveal to my lawyer about this deal as it would jeopardize my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Slade Green is the location of the property. What do you suggest?
Flying freeholds in Slade Green are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Slade Green you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Slade Green may determine 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 property.
My husband and I are FTB’s - agreed a price, but the estate agent advised that the seller will only go ahead if we appoint the agent's recommended lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a family conveyancer with experience of conveyancing in Slade Green
We suspect that the owner is unaware of this demand. Should the owner desire ‘a quick sale', alienating a serious purchaser is likely to cause more damage than good. Bypass the agents and go straight to the owners and make sure they understand (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you intend to use your own,trusted Slade Green conveyancing solicitors - as opposed tothe ones that will give the negotiator at the agency a referral fee or hit his conveyancing targets demanded by corporate headquarters.
I own a leasehold house in Slade Green. Conveyancing and Alliance & Leicester mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Slade Green who previously acted has now retired. Do I pay?
The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Slade Green conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the proprietor of a second floor flat in Slade Green. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to assess the sum to be paid.
An example of a Lease Extension decision for a Slade Green residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The unexpired residue of the current lease was 76 years.
Should local authority consent be required to change a single dwelling into multiple flats in Slade Green? This has occurred to a property next door to my house in Slade Green and was unaware of it happening until after the works were finished.
Planning consent is required for converting a single dwelling in Slade Green into apartments but possibly not for converting back to single dwelling-house so, in answer to your query, yes.