My wife and I are refinancing our flat in Cockfosters with Nationwide. We have a son 19 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. 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 form unique to the Nationwide conveyancing panel as he never had to sign this form when we purchased 3 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 Nationwide. This is solely used to protect Nationwide 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 Nationwide 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.
How up to date is your database of Cockfosters solicitors on the Yorkshire BS conveyancing panel? Do Yorkshire BS send you an updated list?
Cockfosters conveyancing firms themselves provide us confirmation that they are on the Yorkshire BS conveyancing panel as opposed to being supplied with a list from Yorkshire BS directly.
My solicitor has informed me that restrictive coveneant insurance is necessary on my purchase. What is the level of cover for Cockfosters conveyancing?
The right level of restrictive coveneant indemnity insurance depends on who your lender is. It would differ for example between Halifax and Leeds Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
Is it the case that all Cockfosters solicitor firms on the Clydesdale conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Clydesdale approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. The majority of mortgage companies do list licenced conveyancers on their panel and in that case the organisation would be regulated by the CLC.
I have today made my last payment due on my mortgage with Nottingham. I assume I don't need a Cockfosters lawyer on the Nottingham panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
My father has recommend that I appoint his conveyancers in Cockfosters. Do I follow his guidance?
There are no two ways about it the best way to find a conveyancing lawyer is to get referrals from friends or relatives who have actually experience in using the firm you're contemplating using.
I have recently realised that I have 62 years unexpired on my flat in Cockfosters. I am keen to extend my lease but my freeholder is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the landlord. On the whole an enquiry agent may be helpful to carry out a search and prepare a report to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the application to the County Court covering Cockfosters.
I am the leaseholder of a first floor flat in Cockfosters. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
You certainly can. We can put you in touch with a Cockfosters conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Cockfosters property is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case affected 2 flats. The unexpired residue of the current lease was 70.31 years.