My wife and I intend to remortgage our penthouse in Streetly with Coventry BS. We have a son 18 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. 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 two questions (1) Is this form unique to the Coventry BS conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) Does our son by signing this compromise 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.
Can your site be used to find a Conveyancing solicitor in Streetly even if I’m not purchasing or disposing of a house, for instance where I intend to acquire a shop in Streetly with a loan from Accord Mortgages Ltd?
Our search tool is primarily utilised to find residential conveyancing solicitors in Streetly but we have set out towards the bottom of this page a selection of Streetly commercial conveyancing firms. You will need to enquire with the firm directly to check if they can also act for Accord Mortgages Ltd
We're in Streetly, FTBs buying with a mortgage (lender is Clydesdale , and our lawyer is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am selling my property. My past conveyancers closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in Streetly if that makes things easier.
Please use our search tool to help you choose a solicitor for your conveyancing in Streetly. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
There are only Fifty years left on my lease in Streetly. I need to extend my lease but my landlord is absent. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to locate the lessor. On the whole an enquiry agent would be helpful to carry out a search and prepare a report which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Streetly.
Streetly Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing
It would be sensible to investigate if there are any onerous prohibitions in the lease. For example it is very common in Streetly leases that pets are not permitted in certain buildings in Streetly. If you love the flatin Streetly yet your dog is not allowed to live with you then you will be faced difficult decision. What is the the remaining lease term? Plenty Streetly leasehold properties will have a service charge for the upkeep of the building set on behalf of the freeholder. If you acquire the apartment you will have to pay this contribution, usually in instalments accross the year. This may be anything from a few hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent to be met annual, normally this is not a exorbitant amount, say approximately £50-£100 but you need to enquire it because on occasion it could be prohibitively expensive.