My partner and I intend to remortgage our flat in Pentonville with Santander. We have a son approaching twenty 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 property is repossessed. I have two questions (1) Is this form unique to the Santander 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?
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 Santander. This is solely used to protect Santander 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 Santander 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 am intent on selling our property in Pentonville and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A high street Pentonville conveyancer would know that there is no such problem. It does beg the question why the purchasers used an internet conveyancing outfit as opposed to a conveyancing solicitor in Pentonville. We have lived in Pentonville for many years we know of no issue. Do we get in touch with our local Authority to seek clarification need.
It sounds as though you may have a conveyancing lawyer already. Are they able to advise? You need to enquire of 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 illness)
How does conveyancing in Pentonville differ for new build properties?
Most buyers of new build property in Pentonville approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is finished. This is because house builders in Pentonville tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Pentonville or who has acted in the same development.
What tools are available to search for a Pentonville solicitor on the Chelsea Building Society conveyancing panel? I am a keen cyclist and am happy to travel upto 10kilometers to meet the conveyancer.
You can use the tool on this page. Please pick a bank and your location and you will see a number of Pentonville conveyancing lawyers based on proximity. We have detailed some Pentonville conveyancing firms towards the end of this page and you can ring them to verify whether they are on the Chelsea Building Society member panel
Do you have any advice for leasehold conveyancing in Pentonville with the purpose of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Pentonville can be reduced if you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers’ representatives. If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unsettled. Many freeholders or managing agents in Pentonville charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Pentonville. You believe that you know the number of years remaining on your lease but you should double-check via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. It is therefore important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Pentonville state that internal structural alterations or installing wooden flooring require a licence issued by the Landlord approving such alterations. Should you fail to have the approvals in place do not communicate with the landlord without checking with your conveyancer before hand.
I am the registered owner of a ground floor flat in Pentonville. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
if there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the price payable.
An example of a Lease Extension matter before the tribunal for a Pentonville residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The unexpired lease term was 66.8 years.