My fiance and I are refinancing our apartment in Pitstone with Leeds Building Society. We have a son approaching twenty who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. 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 a couple of questions (1) Is this form unique to the Leeds Building Society conveyancing panel as he did not need to sign this form when we purchased 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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 intent on selling our property in Pitstone and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A local conveyancer would know this is not the case. It does beg the question why the purchasers used a web based conveyancing firm as opposed to a conveyancing solicitor in Pitstone. Having lived in Pitstone for 4 years we know that this is a non issue. Should we contact our local Authority to obtain confirmation need.
It would appear that you have a conveyancing lawyer already. What do they say? You should 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 health insurance to cover that same ailment)
four months have elapsed following my purchase conveyancing in Pitstone completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 residence 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.
Due to the encouragement of my in-laws I had a survey completed on a house in Pitstone ahead of retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies will refuse to give a mortgage on such a property.
It varies from the lender to lender. Santander has different requirements from Nationwide. If you contact us we can check 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 Pitstone. Conveyancing will be smoother if you use a solicitor in Pitstone especially if they are familiar with such properties in Pitstone.
What does commercial conveyancing in Pitstone cover?
Pitstone conveyancing for business premises covers a broad range of advice, provided by regulated solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.