My wife and I intend to remortgage our maisonette in Herne Bay with Coventry BS. We have a son 19 who lives with us. 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 apartment is forfeited by the lender. I have two concerns (1) Is this document specific to the Coventry BS conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) Does our son by signing this giving up his rights 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 Coventry BS. This is solely used to protect Coventry BS 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 Coventry BS 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.
Various web forums that I have frequented warn that are a common cause of hinderance in Herne Bay conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any slowing down conveyancing in Herne Bay.
I have recentlydiscovered that Wolstenholmes have closed. They conducted my conveyancing in Herne Bay for a purchase of a leasehold flat 18 months ago. How can I check that the property is not still registered in the name of the previous owner?
The quickest way to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Herne Bay conveyancing specialists.
Due to the input of my in-laws I had a survey completed on a property in Herne Bay before appointing solicitors. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies will not grant a mortgage on a flying freehold property.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. If you call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Herne Bay. Conveyancing will be smoother if you use a solicitor in Herne Bay especially if they are accustomed to such properties in Herne Bay.
If all goes to plan we aim to complete the sale of our £475,000 maisonette in Herne Bay on Wednesday in a week. The freeholder has quoted £396 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Herne Bay?
Herne Bay conveyancing on leasehold flats normally necessitates the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be content to do so. They may charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the invoice is technically not due. In reality one has little option but to pay whatever is requested of you if you want to complete the sale of your home.
Herne Bay Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
Best to be warned if fixing the lift or some other significant cost is due in the near future that will be shared by the leaseholders and will dramatically increase the the maintenance costs or result in a specific payment. Be sure to find out if the the lease contains any onerous restrictions in the lease. For example it is reasonably common in Herne Bay leases that pets are not allowed in certain buildings in Herne Bay. If you like the apartmentin Herne Bay yet your dog can’t move with you then you have a very difficult decision. Who takes charge for maintaining and repairing the block?