My wife and I are refinancing our penthouse in Timperley with UBS. We have a son approaching twenty who lives at home. 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 forfeited by the lender. I have two questions (1) Is this document specific to the UBS conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your UBS 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 UBS. This is solely used to protect UBS 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 UBS 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.
My bid for a property was accepted at auction in Timperley. Conveyancing is required. What are my next steps?
Now that you have for in every practical sense signed on the dotted line you will need to retain a conveyancing lawyer soon as you are facing a fast approaching a fixed date to complete the conveyancing. Every auction property should have a corresponding legal pack. This should include evidence of title and search results. In the case of leasehold property the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You should hand this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that your finances are in place to complete the transaction on the set completion date.
Is there a list of Nationwide panel solicitors in Timperley on the Council of Mortgage Lender’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. Very few mortgage companies make their panel listings available on the web. Where you are seeking to appoint a Timperley solicitor on the Nationwide please use our tool.
We have agreed to purchase a house in Timperley. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Barclays be concerned?
Given that you are obtaining a mortgage with Barclays your lawyer must follow the formal requirements outlined in Part two of UK Finance Lenders’ Handbook for Barclays. The CML Handbook stipulates minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Barclays where a lease does not meet these provisions. The specifications relate to the installation of panels on properties in England and Wales and is not isolated to Timperley.
I am looking for a ground for flat up to £235,500 and found one near me in Timperley I like with amenity areas and transport links nearby, the downside is that it only has 61 years unexpired on the lease. There is not much else in Timperley in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could 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 with a zero ground rent applied. You should consult your conveyancing lawyer about this.
How does the Landlord & Tenant Act 1954 impact my commercial property in Timperley and how can you help?
The 1954 Act provides security of tenure to commercial lessees, giving them the right to apply to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and assist with commercial conveyancing in Timperley
I am using a search engine for the term conveyancing in Timperley it reveals many property lawyersin the vicinity. How do I determine which is the right conveyancer for purchase transaction?
The ideal way of finding a suitable conveyancer is via personal referral, so ask colleagues and family who have purchased a property in Timperley or the local estate agent or mortgage broker. Fees for conveyancing in Timperley vary, so it's a good idea to request at least four fee calculations from varying types of companies. Dont forget to clarify that the fees are fixed.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Timperley. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Timperley ?
Most houses in Timperley are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Timperley in which case you should be looking for a Timperley conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should advise you fully on all the issues.