My wife and I are refinancing our apartment in South Woodford with Clydesdale. We have a son 18 who lives with us. Our solicitor requested us to identify 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, waiving any legal rights in the event that the flat is repossessed. I have two questions (1) Is this form unique to the Clydesdale conveyancing panel as he never had to sign this form when we purchased 5 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 Clydesdale 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 Clydesdale. This is solely used to protect Clydesdale 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 Clydesdale 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 have an AIP. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would prefer to appoint a high street conveyancing solicitor in South Woodford?
Do check but the the likelihood is that appoint one of their panel lawyers should you accept the "fee-free" offer. Contact the lender and see if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near South Woodford.
How does conveyancing in South Woodford differ for newly converted properties?
Most buyers of new build or newly converted property in South Woodford come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because house builders in South Woodford usually acquire 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 property lawyers 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 South Woodford or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a simple, chain free conveyancing. South Woodford is where the house is located. Is there any advice you can impart?
Flying freeholds in South Woodford are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside South Woodford you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Woodford 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 premises.
My company is intending to take over a lease of an office on a shopping parade. Can you recommend conveyancers offering no-move-no costs for commercial conveyancing in South Woodford for under £2000?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in South Woodford, including the disposal and acquisition of businesses as well as simply property. If you are intending to purchase or dispose of a shop, pub, restaurant, office, retail premises or a whole business we can find you the right solicitor. Regarding the charges these will vary based on the structure and terms of the proposed transaction. Let us have your contact information or email so as to enable us to supply you with comprehensive commercial conveyancing calculation.
Back In 2009, I bought a leasehold house in South Woodford. Conveyancing and The Mortgage Works mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in South Woodford who acted for me is not around. Do I pay?
First contact HMLR to be sure that this person is indeed the new freeholder. It is not necessary to instruct a South Woodford conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate landlord, 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 to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a South Woodford conveyancing firm to assist?
Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the sum to be paid.
An example of a Lease Extension case for a South Woodford property is 135 Maybank Road in January 2013. The Tribunal determined that the price to be paid by the tenants for the grant of a new lease is £10,592 This case related to 1 flat. The remaining number of years on the lease was 71.2 years.