My partner and I are refinancing our apartment in Winchmore Hill with Bank of Ireland. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose 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, giving up any rights in the event that the flat is repossessed. I have two concerns (1) Is this document specific to the Bank of Ireland conveyancing panel as he never had to sign this form when we remortgaged 4 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 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.
My Solicitor in Winchmore Hill has never been on on the Bank of Ireland Solicitor Panel. Can I still continue with my family solicitor even though they are not on the Bank of Ireland approved list?
Your options are as follows:
- Complete the purchase with your preferred Winchmore Hill solicitors but Bank of Ireland will need to retain a lawyer on their list of acceptable firms. This will result in additional overall legal charges and cause frustration.
- Get a new lawyer to to deal with the purchase, obviously checking they are Bank of Ireland approved.
- Persuade your Bank of Ireland based solicitor to attempt to join the Bank of Ireland panel
About to purchase a new build flat in Winchmore Hill. 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.
Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Winchmore Hill
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Due to the advice of my in-laws I had a survey completed on a house in Winchmore Hill prior to appointing lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some banks will refuse to give a mortgage on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you contact us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Winchmore Hill. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Winchmore Hill to see if the conveyancing costs will increase in light of this.
All being well we will complete the sale of our £400,000 apartment in Winchmore Hill in just under a week. The freeholder has quoted £312 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Winchmore Hill?
Winchmore Hill conveyancing on leasehold flats usually involves the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be content to do so. They may levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that you have little option but to pay whatever is demanded should you wish to sell the property.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Winchmore Hill conveyancing firm to represent me?
Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to determine the premium.
An example of a Lease Extension matter before the tribunal for a Winchmore Hill premises is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The unexpired lease term was 81.79 years.
As a leasehold owner I am on the hook for a maintenance contribution for my property in Winchmore Hill. As a result of personal circumstances I fell behind with remittance. I negotiated a settlement plan but there is still two remaining to be paid.
I now wish to sell and I am panicking this can hold me back if I have to pay off the arrears now. I'd like to sell up and subsequently repay the debt from the proceeds - is this practicable?
It would be wise to check with the lawyer carrying out your Winchmore Hill conveyancing but one option might be to arrange for the arrears to be passed to the purchasers. The sale price payable would be reduced to reflect the amount of debt they assume. They would then pay the fees after completion of the purchase.