My husband and I intend to remortgage our penthouse in Wimborne with Bank of Ireland. We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this document specific to the Bank of Ireland conveyancing panel as he did not need to sign this form when we bought 5 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 Bank of Ireland 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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.
Despite weeks of looking the Title Certificate and documents to our home are lost. The conveyancers who dealt with the conveyancing in Wimborne 5 years ago are no longer around. What do I do?
As long as you have a registered title the information relating to your proprietorship will be documented by the Land Registry under a Title Number. It is possible to carry out a search at the Land Registry, identify your property and obtain up to date copies of the property title for less than a fiver. If the title is Leasehold then the Land Registry will usually retain a file copy of the Registered Lease and again, a copy can be obtained for twenty pounds.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Wimborne. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Wimborne
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I decided to have a survey done on a house in Wimborne before instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. The surveyor has said that some mortgage companies may not grant a mortgage on a flying freehold house.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Wimborne. Conveyancing will be smoother if you use a solicitor in Wimborne especially if they are familiar with such properties in Wimborne.
I need to find a conveyancing solicitor for some conveyancing in Wimborne. I happened to chance upon a site which seems to have the perfect solution If there is a chance to get all the legals done via phone that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Last August I purchased a leasehold property in Wimborne. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Wimborne - Sample of Questions you should consider Prior to Purchasing
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How many of the leaseholders are in arrears for their service charge payments? It would be prudent to discover as much as you can regarding the managing agents as they will either make your life much simpler or uncomfortable. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to every day issues like the cleanliness of the communal areas. Ask prospective neighbours what they think of them. Finally, investigate as to the dates that the service fees are due to the appropriate party and specifically how they are spending that money. Is there a share of the freehold?