My fiance and I intend to remortgage our flat in Wellington with Bank of Ireland. We have a son 19 who lives with us. 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 concerns (1) Is this form unique to the Bank of Ireland conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this compromise his entitlement 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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 buying a house in Wellington. It might be a silly question but how we can trust a lawyer? On completion day we have to send our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I just bought a flat at auction in Wellington. Conveyancing is required. What is next?
Now that you have exchanged you now have to appoint a conveyancing lawyer quickly as you will have a pending a drop dead date to complete the transaction. An auction property will have a corresponding legal pack. This will include most,if not all of the paperwork that your lawyer will need. Where you are dealing with leasehold property the legal pack should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to a leasehold property. You need to hand this to your appointed conveyancing solicitor ASAP. You also need to ensure that you have funds in place to complete on the date specified in the contract.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Wellington solicitor on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
Should my solicitor be asking questions about flooding during the conveyancing in Wellington.
Flooding is a growing risk for lawyers conducting conveyancing in Wellington. Plenty of people will buy a property in Wellington, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Solicitors are not best placed to impart advice on flood risk, but there are a number of searches that may be initiated by the buyer or on a buyer’s behalf which can figure out the risks in Wellington. The conventional set of property information forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the owner to discover whether the premises has ever been flooded. If flooding has previously occurred which is not disclosed by the owner, then a buyer may issue a claim for damages as a result of such an misleading reply. The buyer’s lawyers should also commission an enviro report. This will reveal whether there is any known flood risk. If so, further investigations will need to be made.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. Wellington is where the house is located. Can you offer any assistance?
Flying freeholds in Wellington are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wellington you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wellington may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I've recently bought a leasehold flat in Wellington. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Wellington Conveyancing for Leasehold Flats - A selection of Queries before buying
The best form of lease structure is where the freehold interest is in the ownership of the leaseholders. In this scenario the tenants enjoy being in charge if their destiny and notwithstanding that a managing agent is frequently retained if it is larger than a house conversion, the managing agent acts for the leaseholders themselves. The majority of Wellington leasehold properties will incur a service charge for maintenance of the block levied by the landlord. If you purchase the apartment you will have to meet this charge, normally quarterly accross the year. This can be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a rentcharge to be met annual, this is usually not a significant sum, say approximately £25-£75 but you need to check as on occasion it could be many hundreds of pounds. Best to be warned if fixing the lift or some other major work is due in the foreseeable future to be shared between the leaseholders and could well materially impact the level of the service fees or necessitate a one off payment.