My fiance and I changing mortgage lender for our apartment in Epsom and Ewell with Aldermore. We have a son 18 who lives with us. Our solicitor has asked us to disclose any adults 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 flat is forfeited by the lender. I have two concerns (1) Is this document specific to the Aldermore conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this giving up his rights 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.
We are downsizing from our home in Epsom and Ewell and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any high street Epsom and Ewell conveyancer would know that there is no such problem. It does beg the question why the buyers are using a web based conveyancing firm rather than a conveyancing solicitor in Epsom and Ewell. Having lived in Epsom and Ewell for three years we know of no issue. Should we contact our local Authority to seek confirmation need.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I've recently found out that there is a flying freehold element on a property I have offered on last month in what was supposed to be a simple, no chain conveyancing. Epsom and Ewell is where the house is located. Can you shed any light on this issue?
Flying freeholds in Epsom and Ewell are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Epsom and Ewell you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Epsom and Ewell may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am attracted to a two flats in Epsom and Ewell both have about fifty years remaining on the lease term. should I be concerned?
A lease is a right to use the premises for a period of time. As the lease gets shorter the marketability of the lease deteriorates and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena.
Notwithstanding our best efforts, we have been unsuccessful in seeking a lease extension in Epsom and Ewell. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We are happy to put you in touch with a Epsom and Ewell conveyancing firm who can help.
An example of a Lease Extension decision for a Epsom and Ewell property is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The unexpired lease term was 60.43 years.
I previously told by my lender that their approved lawyers work on no completion no charge basis for conveyancing in Epsom and Ewell. I had a purchase fall through yet the conveyancers want search fees! They say the fees are independent!
Epsom and Ewell conveyancing search charges are separate expenses not legal fees as these are paid to a third party.