My wife and I swapping mortgage lender for our flat in Cheadle with Aldermore. We have a son 18 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, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Aldermore conveyancing panel as he never had to sign this form when we remortgaged 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 Aldermore 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 Aldermore. This is solely used to protect Aldermore 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 Aldermore 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.
Due to the advice of my in-laws I had a survey completed on a house in Cheadle prior to retaining lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some banks tend not give a mortgage on a flying freehold house.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. If you contact us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Cheadle. Conveyancing may be slightly more expensive based on your lender's requirements.
Taking into account that I am about to part with £400,000 on a terraced house in Cheadle I wish to talk to a conveyancer about mytransaction ahead of giving the go ahead to the firm. Can this be arranged?
This is something that we encourage - we would be pleased to talk to you we do not take any clients on without you speaking to the lawyer who will be conducting your property ownership legalities in Cheadle.There is no ‘factory style conveyancing’ - each client is unique person, not a file reference. The practices that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Cheadle should be the figure that you end up paying.
I need to find a conveyancing solicitor for my conveyancing in Cheadle. I have stumble upon a site which seems to have the perfect offering If it is possible to get all this stuff done via web that would be ideal. Should I 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?
I work for a busy estate agent office in Cheadle where we see a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Cheadle conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Cheadle Leasehold Conveyancing - Examples of Queries before buying
Who manages the building? Are any of leasehold owners in arrears of their service charge payments? Make sure you enquire if there are any onerous restrictions in the lease. For instance plenty of leases prohibit pets being allowed in in a block in Cheadle. If you love the flatin Cheadle but your cat can’t live with you then you have a very difficult determination.