My partner and I are refinancing our flat in Dover with Nottingham. We have a son 19 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. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have a couple of concerns (1) Is this document specific to the Nottingham conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this compromise his entitlement 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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.
I appreciate that there are debates on Chancel Insurance on online forums. Do I need this when purchasing a house in Dover? or I am told that there is a law dating back centuries that means some homeowners residing in a parish church boundary may be liable to pay for maintenance towards the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Dover?
Unless a previous acquisition of the house completed after 12 October 2013 you may assume that lawyers conducting conveyancing in Dover to remain encouraging a chancel search and or chancel repair liability policy.
I have been on the look out for a flat up to £195,000 and identified one close by in Dover I like with open areas and station in the vicinity, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Dover for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a mortgage that many years will be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
My husband and I are FTB’s - agreed a price, yet the agent advised that the vendor will only go ahead if we appoint their recommended solicitors as they want an ‘expedited deal’. Our preferred option is to instruct a high street solicitor accustomed to conveyancing in Dover
It is unlikely the vendors are behind this. Should the vendor want ‘a quick sale', taking such a hostile approach to a genuine buyer is not the way to achieve this. Contact the owners directly and make the point that (a)you are genuine purchasers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you intend to use your own,trusted Dover conveyancing firm - rather thanthe ones that will give their estate agent a introducer fee or meet his conveyancing thresholds set by senior management.
I dont have enough spare money to pay a 10% deposit on my flat purchase in Dover , but I am keen go ahead. What can I do?
One option is to try and accept a lesser deposit. Many property owners will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second