My fiance and I are refinancing our maisonette in Shenfield with Principality. We have a son approaching twenty who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Principality conveyancing panel as he never had to sign this form when we purchased 5 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 Principality. This is solely used to protect Principality 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 Principality 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.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Shenfield. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 21/2/2021, the requirements read as follows :
I require fast conveyancing in Shenfield as I am faced with pressure to complete inside 4 weeks. Luckily I do not require a mortgage. Is it possible to escape the need for conveyancing searches to save fees and time?
As you are are a mortgage free purchaser you are at liberty not to have searches conducted although no solicitor would advise that you don't. Drawing on years of experience of conveyancing in Shenfield the following are examples of issues that can show up and therefore impact market value: Enforcement Actions, Outstanding Fees, Outstanding Grants, Road Schemes,...
Just had an offer accepted on a new build flat in Shenfield. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Shenfield
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
What is the distinction between surveying and conveyancing in Shenfield?
Conveyancing - in Shenfield or elsewhere - is the process of legally transferring legal title of property from one person to another. It therefore includes the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are buying and will help you discover the condition of the building and, if there are problems, give you a powerful reason for reducing the price down or asking the seller to fix the problems before you move in.