My husband and I intend to remortgage our apartment in Barkingside with Nottingham. 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. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of concerns (1) Is this document specific to the Nottingham conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Nottingham conveyancing panel solicitor is doing the right thing 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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.
My grandfather passed away six months ago and as sole heir and executor I was left the house in Barkingside. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Barclays, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then Barclays will require that you use a conveyancer on the Barclays conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Barclays conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Barclays mortgage is registered as a charge at the Land Registry.
I am purchasing a terrace house in Barkingside. Our aim is to an extension at the rear at the house.Will the conveyancing process include enquiries to determine if these works were previously refused?
Your conveyancer should review the deeds as conveyancing in Barkingside can occasionally reveal restrictions in the title deeds which prevent categories of alterations or necessitated the consent of another owner. Some additions need local authority planning consent and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
Can you point me to a directory of Kent Reliance panel solicitors in Barkingside on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. Very few mortgage companies make their panel listings visible on the web. Where you are looking for a Barkingside property lawyer on the Kent Reliance please make the most of our tool.
My sealed bid on a house in Barkingside has been accepted, the owners do however have an associated purchase. The vendors have placed an offer on somewhere, however it’s not been accepted yet, and have viewings of other apartments booked. I have instructed a bricks and mortar conveyancing solicitor in Barkingside. What do I do now? At what stage do I apply for the mortgage with Principality?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then valuation, Barkingside conveyancing search costs, etc). First, you should check that your lawyer is on the Principality approved list. As to the subsequent steps this very much dictated by the circumstances of your transaction, motivation for the property and on the state of the market. In a buoyant market the majority of home buyers will apply for the mortgage with Principality and pay for the valuation and only if it was satisfactory would they request their property lawyer to move forward with the conveyancing in Barkingside.
I have todaybecome aware that Action Conveyancing have closed. They carried out my conveyancing in Barkingside for a purchase of a leasehold apartment 18 months ago. How can I be sure that my home is in my name in the name of the former proprietor?
The quickest way to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Barkingside conveyancing specialists.
I am looking at a couple of maisonettes in Barkingside which have about fifty years left on the lease term. should I be concerned?
There is no doubt about it. A leasehold apartment in Barkingside is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the property. The majority of buyers and mortgage companies, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Barkingside conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I have had difficulty in trying to reach an agreement for a lease extension in Barkingside. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the price payable.
An example of a Lease Extension matter before the tribunal for a Barkingside premises is 104 Coventry Road in July 2014. The Tribunal determined that the lease extension permium should be £22,896.15 This case affected 1 flat. The unexpired lease term was 60.29 years.
Developers have recommended to me a conveyancing practitioner and I've obtained a quote from them. They are almost two hundred pounds cheaper than my family Barkingside solicitor. What's the catch?
Developers frequently have panels of conveyancing practitioners who expedite matters and who know the developer’s paperwork and conveyancer. Plenty of developers offer an incentive to select their approved property lawyer for this reason, any increased charges can be avoided and a developer will not suggest a conveyancing factory and run the risk of having the transaction delayed when they demand an exchange inside a month. The argument for not agreeing to use the recommended conveyancer is that they may be hesitant to fight for your interests at the risk of upsetting the housebuilder. Where you have concerns that this may be the case you should keep with your high street Barkingside conveyancer.