My husband and I are refinancing our maisonette in Trelogan with Coventry BS. We have a son approaching twenty who lives at home. 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 repossessed. 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 purchased 5 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.
I am buying my first flat in Trelogan with a mortgage from Platform Home Loans Ltd. The developers would not budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not disclose to my lawyer about the side-deal as it will adversely affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In what way can the Landlord & Tenant Act 1954 affect my business offices in Trelogan and how can you help?
The particular law that you refer to gives a safeguard to commercial tenants, granting the legal entitlement to apply to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in Trelogan
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £325,000 flat in Trelogan next week. The freeholder has quoted £408 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Trelogan?
Trelogan conveyancing on leasehold maisonettes ordinarily involves fees being invoiced by managing agents :
Answering pre-contract questions
Where consent is required before sale in Trelogan
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Trelogan Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing
The prefered form of lease arrangement is where the freehold interest is in the ownership of the leaseholders. In this situation the tenants benefit from being in charge if their destiny and although a managing agent is frequently retained if it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Please note that where the lease has fewer than eighty years it will impact the value of the flat. Check with your lender that they are happy with residual term of the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth discovering how much this would cost. For most Treloganlease extensions you will need to own the premises for a couple of years in order to be legally able to extend the lease. Is there a share of the freehold?
Living abroad it is not practicable to travel my Trelogan conveyancing solicitors office to sign documents connected to my conveyancing in Trelogan – will this be an issue?
You need not be concerned. Trelogan conveyancing lawyers can conduct home moves for clients from a distance. It is not necessary for you to be able to attend a Trelogan conveyancers office. Almost all solicitor can handle all communications using post, email, telephone and fax.