My wife and I are refinancing our apartment in Kineton with Leeds Building Society. We have a son 18 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. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is repossessed. I have a couple of concerns (1) Is this form unique to the Leeds Building Society conveyancing panel as he never had to sign this form when we remortgaged 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 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.
As a FTB what is the most important piece of guidance you can impart about purchase conveyancing in Kineton?
Not many law firms shout this from the rooftops but conveyancing in Kineton or throughout Warwickshire is an adversarial experience. In other words, when it comes to conveyancing there exists plenty of room for friction between you and others involved in the house moving process. For example, the seller, selling agent and even potentially the lender. Selecting a lawyer for your conveyancing in Kineton an important selection as your conveyancer is your adviser, and is the ONE party in the process whose role it is to look after your best interests and to protect you.
We are witnessing a worrying ongoing adversarial element to conveyancing- someone has to be blamed for the process being so protracted. You should always trust your lawyer ahead of all other parties when it comes to the legal transfer of property.
My relative suggested that where I am buying in Kineton I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Kineton conveyancing searches. It is not a small document of more than thirty pages, listing and setting out important information about Kineton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Kineton Education with maps and statistics, Local Amenities and other useful data about Kineton.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Kineton is the location of the property. What do you suggest?
Flying freeholds in Kineton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kineton 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 Kineton 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.
In my capacity as executor for the estate of my aunt I am selling a residence in Monmouth but live in Kineton. My lawyer (based 235 kilometers from meneeds me to sign a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing lawyer in Kineton who can witness and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are Kineton based
Last December I purchased a leasehold flat in Kineton. Am I liable to pay service charges for periods before completion of my purchase?
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. Strange as it may seem, 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).
Kineton Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
-
If a Kineton lease has no more than eighty years it will impact the marketability of the flat. Check with your lender that they are happy with remaining years on the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and it is worth discovering what this will be. For most Kinetonlease extensions you would be required to have been the owner of the premises for 24 months before you are eligible to carry out a lease extension. What is the annual service fee and ground rent?