My fiance and I intend to remortgage our apartment in Coven with Principality. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Principality conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) In signing this form is our son in any way compromising his right 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 Principality. This is solely used to protect Principality 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 Principality 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.
Can you explain why leasehold purchase conveyancing in Coven costs more?
The conveyancing charges for a leasehold premises in Coven is frequently greater than on a freehold acquisition or disposal. This is because there is an amount of additional investigations required in corresponding with the landlord and managing agents to obtain evidence concerning whether the rent and service charges have been paid and whether there are any significant expenditure in the foreseeable future on repairs or maintenance of the block.
I am assisting my niece sell her property in Coven. Does the conveyancing solicitor commission the energy assessment or should I organise this?
Following the demise of Home Information Packs, EPC’s became a required element of moving house. An energy performance certificate should be to hand before the property is advertised. This is not a task that conveyancers ordinarily organise. If you are using a Coven conveyancing practitioner they might be able to arrange energy performance certificates given their contacts with long established Coven providers
We are due to move property in December. Should my conveyancing solicitor communicate with the removal company on the completion day. As an aside, can you recommend a removal company in Coven. Conveyancing solicitor was organised before I stumbled across your site.
On the day of completion you can pick up the house keys from your selling agent but this should only happen when the vendors conveyancers inform the agent that the monies to complete are in and the keys can be handed over. After that you should tell the removal company that you are ready to move in. As a matter of policy we do not recommend a specific removal organisation but can help you locate a conveyancing in Coven or a solicitor with expertise in conveyancing in Coven.
The formalities of my purchase has taken place for my property in Coven. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
What does a local search reveal about the property my wife and I purchasing in Coven?
Coven conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company such as Xpress Legal The local search is essential in every Coven conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search will supply information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Coven is where the house is located. What do you suggest?
Flying freeholds in Coven are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Coven you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Coven may decide 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 property in Coven. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee 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 ensure 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).
I own a basement flat in Coven, conveyancing formalities finalised 5 years ago. How much will my lease extension cost? Corresponding properties in Coven with over 90 years remaining are worth £191,000. The ground rent is £55 yearly. The lease terminates on 21st October 2078
With just 53 years remaining on your lease we estimate the premium for your lease extension to span between £27,600 and £31,800 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.