My fiance and I swapping mortgage lender for our maisonette in Hendon with Nationwide. 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. The solicitor has now sent a form 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 Nationwide conveyancing panel as he did not need to sign this form when we remortgaged 4 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 Nationwide 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 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.
3 months have gone by following my purchase conveyancing in Hendon took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey carried out on a house in Hendon ahead of retaining solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies tend refuse to issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. Should you wish to telephone us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hendon. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hendon to see if the conveyancing costs will increase in light of this.
My father-in-law has recommend that I appoint his conveyancers in Hendon. Should I find my own conveyancer?
Much as we are happy to recommend a Hendon conveyancing lawyer the best way to find a conveyancing practitioner is to have referrals from friends or relatives who have actually previously instructed the solicitor that you are are thinking of instructing.
What advice can you give us when it comes to appointing a Hendon conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Hendon conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Hendon conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
How experienced is the practice with lease extension legislation? Can they put you in touch with clients in Hendon who can give a testimonial?
Having spent months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Hendon. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to judgment on the price.
An example of a Lease Extension case for a Hendon property is First Floor Flat 61 Wilberforce Road in March 2014. The premium payable was £10,130 and the case was remitted back to the Willesden County Court to effect the Vesting Order (Claim No 3W103100). This case related to 1 flat. The remaining number of years on the lease was 71 years.