My fiance and I intend to remortgage our penthouse in Billericay with Clydesdale. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is repossessed. I have a couple of questions (1) Is this form unique to the Clydesdale conveyancing panel as he never had to sign this form when we bought 3 years ago (2) Does our son by signing this compromise his rights to inherit the property?
First, rest assured that your Clydesdale 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 Clydesdale. This is solely used to protect Clydesdale 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 Clydesdale 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.
Are there restrictive covenants that are commonly identified during conveyancing in Billericay?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Billericay. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Billericay differ for new build properties?
Most buyers of new build premises in Billericay come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Billericay usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Billericay or who has acted in the same development.
I have been advised by a couple of local estate agents in Billericay to get a quote from a solicitor on your site. Is there a financial inducement for Estate Agents to market your services rather than another?
We refuse to make any referral fee for directing people to this site. We thought it would be too underhand to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
We're FTB’s - agreed a price, yet the property agent informed us that the vendor will only go ahead if we appoint their preferred solicitors as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a high street solicitor with experience of conveyancing in Billericay
It is unlikely the sellers are driving this. Should the owner desire ‘a quick sale', alienating a genuine buyer is going to damage their objectives. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you intend to instruct your own,trusted Billericay conveyancing lawyers - rather thanthe ones that will earn their negotiator at the agency a introducer fee or meet his conveyancing targets demanded by corporate headquarters.
I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Billericay. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Billericay ?
The majority of houses in Billericay are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. it is apparent that you are buying in Billericay so you should seriously consider shopping around for a Billericay conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will report to you on the legal implications.
Billericay Conveyancing for Leasehold Flats - Sample of Queries before buying
-
The majority of Billericay leasehold apartments will be liable to pay a service bill for the upkeep of the block invoiced by the management company. Where you buy the property you will have to pay this amount, usually periodically throughout the year. This could vary from a few hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. In all likelihood there will be a rentcharge to be met annual, ordinarily this is not a exorbitant amount, say around £25-£75 but you need to check it because on occasion it could be many hundreds of pounds. How is the lease structured? Make sure you find out if there is anything that is prohibited in the lease. By way of example some leases prohibit pets being allowed in certain buildings in Billericay. If you like the flatin Billericay but your dog is not allowed to make the move with you then you will be presented with a difficult choice.