My wife and I intend to remortgage our penthouse in Crystal Palace with Santander. We have a son 19 who lives at home. Our solicitor has asked us to disclose 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 apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Santander conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this extinguish his entitlement 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 Santander. This is solely used to protect Santander 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 Santander 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 someone not used to conveyancing in Crystal Palace what’s your top tip you can impart for the ownership transfer in Crystal Palace
You may not hear this from too many lawyers but conveyancing in Crystal Palace and elsewhere in South East London is often a confrontational experience. Put another way, when it comes to conveyancing there exists plenty of opportunity for confrontation between you and others involved in the transaction. E.g., the seller, property agent and even potentially your bank. Choosing a law firm for your conveyancing in Crystal Palace should not be taken lightly as your conveyancer is your adviser, and is the ONE person in the legal process whose interest is to look after your best interests and to protect you.
We are witnessing a distinct increase in the "blame" culture- someone must be at fault for the process taking so long. We recommend that you should always trust your solicitor above all other parties when it comes to the legal transfer of property.
We're in Crystal Palace, First time buyers purchasing with a mortgage (lender is Kent Reliance , and our lawyer is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My colleague advised me that if I am purchasing in Crystal Palace I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes included in the estimate for your Crystal Palace conveyancing searches. It is not a small report of about 40 pages, listing and setting out important information about Crystal Palace around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Crystal Palace Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information regarding Crystal Palace.
I am buying a new build flat in Crystal Palace. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Crystal Palace
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I am in need of some leasehold conveyancing in Crystal Palace. Before I get started I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Crystal Palace - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have had difficulty in trying to purchase the freehold in Crystal Palace. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a Crystal Palace conveyancing firm who can help.
An example of a Lease Extension decision for a Crystal Palace residence is Flat 5 4 Border Crescent in December 2013. the tribunal calculated that premium payable for the acquisition of a lease extension of the subject premises was in the sum of £14,900 (Fourteen thousand, nine hundred pounds). Those advising the applicant were advised to send a copy of the decision and a copy of the new lease with the premium (less the applicants costs as assessed by the Court) to the Croydon County Court (under claim number 3CR01226) for an officer of the Court to execute the new lease on behalf of the absentee landlord who is missing and cannot be traced). This case related to 1 flat. The number of years remaining on the existing lease(s) was 69 years.