My wife and I changing mortgage lender for our apartment in Broadway with Kent Reliance. 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. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Kent Reliance conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Kent Reliance 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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.
Will my solicitor be raising questions concerning flooding as part of the conveyancing in Broadway.
The risk of flooding is if increasing concern for solicitors dealing with homes in Broadway. Plenty of people will acquire a house in Broadway, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, however there are a various searches that can be initiated by the purchaser or by their lawyers which will figure out the risks in Broadway. The conventional set of information supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a usual inquiry of the vendor to determine if the premises has ever been flooded. In the event that the residence has been flooded in past and is not notified by the seller, then a purchaser may bring a legal claim for losses resulting from an inaccurate answer. The buyer’s conveyancers will also order an enviro search. This should reveal if there is a recorded flood risk. If so, additional inquiries will need to be conducted.
I used Action Conveyancing several years past for my conveyancing in Broadway. I now require my file but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Broadway of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I need to retain a conveyancing solicitor for freehold conveyancing in Broadway. I've stumble across a web site which seems to have the ideal solution If it is possible to get all this stuff done via web that would be preferable. Do I need to be wary? 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?
Can you offer any advice when it comes to choosing a Broadway conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Broadway conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with several firms including non Broadway conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:
How many lease extensions has the firm completed in Broadway in the last 12 months?
Broadway Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying
Please note that where the lease has fewer than eighty years it will have adverse implications on the value of the flat. It is worth checking with your mortgage company that they are content with residual term of the lease. A short lease means that you will most likely need a lease extension at some point and you need to have some idea of how much this will be. For most Broadwaylease extensions you will need to own the premises for two years before you are eligible to exercise a lease extension. The majority of Broadway leasehold properties will have a service bill for the upkeep of the block invoiced on behalf of the freeholder. Where you buy the flat you will have to meet this charge, usually in instalments accross the year. This can be anything from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all likelihood there will be a rentcharge to be met annual, this is usually not a exorbitant figure, say around £25-£75 but you need to enquire it because sometimes it can be many hundreds of pounds. This question is useful as a) areas can cause problems for the building as the communal areas may start to deteriorate if maintenance are not paid for b) if the leaseholders have an issue with the running of the building you will wish to know about it