My husband and I are refinancing our flat in Whalley Range with RBS. 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 a couple of concerns (1) Is this document specific to the RBS conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) Does our son by signing this giving up his entitlement 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 RBS. This is solely used to protect RBS 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 RBS 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 Whalley Range. Conveyancing is necessary. What happens now?
Given that you are now to all intents and purposes signed on the dotted line you now have to appoint a conveyancing practitioner quickly as you will have a pending a drop dead date to complete the purchase. Every auction property will ordinarily have an associated auction pack. This should include most,if not all of the paperwork that your conveyancer requires. Where you are dealing with leasehold premises the auction papers may contain 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 conveyancer instructed by you ASAP. You also need to ensure that your finances are organised to complete the transaction on the set completion date.
I currently have a mortgage with Clydesdale for my property in Whalley Range. Conveyancing was finalised months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?
You must advise Clydesdale prior to renting your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. It should not be necessary to do this via a Clydesdale conveyancing panel lawyer.
Completion of my purchase has taken place for my property in Whalley Range. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I require quick conveyancing in Whalley Range as I have an ultimatum to complete inside 2 weeks. Fortunately I do not require a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
As you are not getting a home loan you have the choice not to have searches carried out although no conveyancer would advise that you don't. Drawing on our experience of conveyancing in Whalley Range the following are instances of what can show up and adversely affect future saleability: Refused Planning Applications, Outstanding Charges, Overdue Grants, Road Schemes,...
How does conveyancing in Whalley Range differ for new build properties?
Most buyers of new build or newly converted property in Whalley Range approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is finished. This is because developers in Whalley Range tend to buy 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 accustomed to new build conveyancing in Whalley Range or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Whalley Range is the location of the property. Is there any guidance you can impart?
Flying freeholds in Whalley Range are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Whalley Range you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Whalley Range 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 residence.
Can you provide any advice for leasehold conveyancing in Whalley Range with the purpose of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Whalley Range can be bypassed if you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ representatives. You believe that you know the number of years remaining on your lease but you should verify this by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Whalley Range leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord consenting to such works. Should you fail to have the consents in place do not communicate with the landlord without checking with your lawyer first. If there is a history of conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than unsettled.
Leasehold Conveyancing in Whalley Range - A selection of Questions you should consider Prior to buying
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Are there any major works on the horizon that will likely increase the service charges? How much is the service charge and ground rent on the apartment? Where a Whalley Range lease has less than eighty years it will impact the salability of the flat. Check with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will most likely require a lease extension at some point and you need to have some idea of what this would cost. For most Whalley Rangelease extensions you would be be obliged to have been the owner of the premises for 24 months in order to be eligible to extend the lease.