My partner and I are refinancing our maisonette in Stapleford with Kent Reliance. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have a couple of concerns (1) Is this form unique to the Kent Reliance 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 Kent Reliance 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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.
In what way does my ID and proof of funds have anything to do with my conveyancing in Stapleford? Is this really necessary?
Stapleford conveyancing solicitors as well as nationwide property lawyers throughout the UK have a duty under Anti-terror and anti-money-laundering rules to check the identity of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to disclose two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and proof of address (usually a Bank Statement less than 3 months old).
Proof of the origin of funds is also necessary under the money laundering regulations as solicitors are required to investigate that the funds you are utilising to purchase a property (whether it be the deposit for exchange or the full purchase amount where you are buying without a mortgage) has come from an acceptable source (such as employment savings) and is not the fruits of illegitimate behaviour.
My aunt passed away six months ago and as sole heir and executor I was left the house in Stapleford. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then RBS will insist on your using a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Stapleford?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Stapleford. 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…’
Over the last few months I have been searching for a ground for flat up to £235,500 and found one close by in Stapleford I like with open areas and railway links nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Stapleford suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a home loan that many years may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I am four weeks into a freehold purchase having been directed to solicitors by the high street agent to carry out the conveyancing in Stapleford. I am am very dissatisfied with the level of service. Can you you assist me in finding new lawyers?
They would need to be really bad to suggest replacing them. Has the loan offer been issued? If so you need to advise them of the replacement solicitor and have the mortgage documents are issued to the new lawyers. Your solicitor ideally should be on the mortgage company approved list to avoid supplemental charges and complications. That should be your starting point. The find a solicitor tool will help you find a bank approved lawyer for your conveyancing in Stapleford