My husband and I changing mortgage lender for our flat in Thirsk with Leeds Building Society. 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. Our lawyer has now e-mailed a document 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 document specific to the Leeds Building Society conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right 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 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 just bought a house at auction in Thirsk. Conveyancing is necessary. What happens now?
Having legally bound yourself to purchase you will need to choose a conveyancing lawyer quickly as you will have a tight deadline in which to complete the purchase. An auction property will have an associated auction set of papers. This will include most,if not all of the paperwork that your solicitor will need. If you have purchased leasehold property the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You must pass this on to the lawyer working for you ASAP. You also need to ensure that you have funds organised to complete the transaction on the set completion date.
It is not clear whether my mortgage offer requires a lease extension. I have called my Thirsk building society branch on a couple of occasions and was informed it wasn't an issue and they will lend. My Thirsk conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The lawyer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Intending to buy a maisonette in Thirsk. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Clydesdale conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Thirsk solicitor is on the Clydesdale conveyancing panel.
I am purchasing my first flat in Thirsk benefiting from help to buy. The builders would not move on the amount so I negotiated 6k of extras instead. The sale representative told me not inform my conveyancer about this side-deal as it will affect my loan 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.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Thirsk is where the house is located. Can you shed any light on this issue?
Flying freeholds in Thirsk are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Thirsk you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Thirsk may ascertain 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.
In my capacity as executor for the will of my father I am selling a residence in Cardiff but I am based in Thirsk. My lawyer (who is 235 miles from mehas requested that I sign a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing practitioner in Thirsk who can witness this legal document for me?
strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are based in Thirsk
I am employed by a busy estate agency in Thirsk where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Thirsk conveyancing solicitors. Could you clarify whether the vendor of a flat can instigate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Thirsk - Sample of Queries Prior to Purchasing
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Are any of leasehold owners in dispute over their service charge liability? How is the lease structured? What is the name of the managing agents?