My fiance and I are refinancing our flat in Boscastle with Virgin Money. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this document specific to the Virgin Money 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 rights to inherit the property?
First, rest assured that your Virgin Money 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 Virgin Money. This is solely used to protect Virgin Money 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 Virgin Money 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.
Why do I have to pay up front when it comes to conveyancing in Boscastle?
If you are buying a property in Boscastle your solicitor will request that you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the sale price then this will be asked for immediately before exchange of contracts. The final balance that is due should be sent to your lawyer shortly before completion.
My aunt passed away six months ago and as sole heir and executor I was left the property in Boscastle. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this possible?
Given you plan to refinance then Virgin Money will insist on your using a conveyancer on the Virgin Money 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 Virgin Money 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 Virgin Money mortgage is registered as a charge at the Land Registry.
Do commercial conveyancing searches reveal impending roadworks that could affect a commercial site in Boscastle?
Many commercial conveyancing solicitors in Boscastle will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Boscastle. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Boscastle.
For every commercial conveyancing transaction in Boscastle it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to Boscastle commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Boscastle.
My husband and I are FTB’s - had an offer accepted, but the agent advised that the seller will only issue a contract if we use the agent's recommended lawyers as they need a ‘quick sale’. My instinct tells me that we should use a family conveyancer accustomed to conveyancing in Boscastle
We suspect that the seller is unaware of this request. Should the owner desire ‘a quick sale', alienating a serious buyer is is going to put the whole deal at risk. Bypass the agents and go straight to the owners and make the point that (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you are going to appoint your preferred Boscastle conveyancing solicitors - rather thanthe ones that will provide the negotiator at the agency a introducer fee or meet his conveyancing thresholds pre-set by head office.
I am intending to let out my leasehold apartment in Boscastle. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your last Boscastle conveyancing solicitor is not available you can review your lease to see if it allows you to sublet the apartment. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to obtain consent via your landlord or other appropriate person prior to subletting. This means that you cannot sublet without prior consent. The consent is not allowed to be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord for their consent.
Boscastle Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
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How many years are left on the lease? Its a good idea to discover as much as possible regarding the managing agents as they can either make life much easier or problematic. As the owner of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to practical issues like the upkeep of the communal areas. Don't be shy to ask prospective neighbours what they think of their service. On a final note, investigate as to the dates that the maintenance fees are due to the appropriate party and precisely what it includes.