My wife and I swapping mortgage lender for our maisonette in Warminster with Skipton. We have a son 18 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have two concerns (1) Is this form unique to the Skipton conveyancing panel as he did not need to sign this form when we remortgaged 5 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 Skipton. This is solely used to protect Skipton 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 Skipton 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.
At what point will exchange of contracts take place for sale conveyancing in Warminster and do I need to be at the solicitors branch?
Where you are local to our conveyancing solicitors in Warminster you are welcome to attend to sign the paperwork. That being said, the law practices we work with provide a national conveyancing service and give as equally comprehensive and professional a job for you when dealing with you by post or email. The executing of the contract is not the point of no return. Signing on the dotted line is necessary for the firm to exchange contracts when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Warminster)to be in the office at the appropriate time.
Is it necessary to pay for insurance to protect me from financial exposure to chancel repairs when buying a property in Warminster?
Unless a prior acquisition of the property completed after 12 October 2013 you may assume that solicitors handling conveyancing in Warminster to remain recommending a chancel search and or insurance against a claim.
I have been on the look out for a leasehold apartment up to £195,000 and found one close by in Warminster I like with a park and transport links in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Warminster suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the shortness of the lease will be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
How can the Landlord & Tenant Act 1954 affect my commercial offices in Warminster and how can you help?
The 1954 Act gives a safeguard to business tenants, giving them the dueness to make a request to court for a renewal tenancy and remain in occupation at the end of the lease term. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Warminster is one of our many areas of the UK in which the firms we work with have offices
I’m about to sell my basement apartment in Warminster. Conveyancing is yet to be initiated, but I have just received a half-yearly maintenance charge demand – what should I do?
It best that you discharge the service charge as you normally would because all ground rent and service invoices will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Warminster Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
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This question is useful as a) areas may cause problems in the building as the communal areas may begin to deteriorate if repairs are not paid for b) if the leaseholders have an issue with the running of the building you will want to have full disclosure Best to be warned whether a new roof is being put on or some other major work is due in the near future that will be shared by the leasehold owners and could well dramatically impact the level of the service costs or necessitate a one time payment. Most Warminster leasehold flats will be liable to pay a service bill for maintenance of the building levied by the landlord. Should you buy the property you will have to meet this liability, usually in instalments throughout the year. This can differ from two or three hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent to be met annual, this is usually not a significant figure, say approximately £25-£75 but you should to enquire it because occasionally it could be many hundreds of pounds.