My partner and I changing mortgage lender for our apartment in Berkshire with Clydesdale. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is repossessed. I have a couple of concerns (1) Is this document specific to the Clydesdale 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 Clydesdale. This is solely used to protect Clydesdale 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 Clydesdale 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.
Finally the sale completed on my house in Berkshire last March but my buyer keeps texting me to say his conveyancer is waiting to hear from mine. What are the post completion sale formalities following completion?
Following your house sale your conveyancer is obliged to send the transfer documentation and all additional paperwork to the purchaser's solicitors. Where appropriate, your lawyer should also send confirmation that the legal charge in favour of the lender has been discharged to the buyers lawyers. There is unlikely to be post completion procedures unique to conveyancing in Berkshire.
The estate agent has sent us the confirmation of our purchase of a new build flat in Berkshire. Conveyancing is a frightening process 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 conveyancing.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Berkshire
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Over the last few months I have been searching for a flat up to £245,000 and identified one near me in Berkshire I like with amenity areas and transport links in the vicinity, however it's only got 51 years unexpired on the lease. I can't really find anything else in Berkshire in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the remaining unexpired lease term will be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
My husband and I are four weeks into a leasehold purchase having been directed to a firm by the estate agent to perform conveyancing in Berkshire. I am am very disappointed with the level of service. Could you help me find new solicitors?
A solicitor would need to be really poor to suggest replacing them. Has the mortgage been generated? If so you will need to advise them of the new contact details and ensure the offer are issued to the new lawyers. Your new solicitor ideally needs to be on the banks panel to avoid escalating charges and delays. That should be your first question of the new conveyancers. Our search tool can help you find a bank approved lawyer for your home move in Berkshire