My partner and I are refinancing our apartment in Eden Park with Virgin Money. We have a son 18 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, giving up any rights in the event that the flat is repossessed. I have two questions (1) Is this document specific to the Virgin Money conveyancing panel as he never had to sign this form when we bought 5 years ago (2) In signing this form is our son in any way compromising his right 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.
I am the registered owner of a freehold premises in Eden Park but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Eden Park and has limited impact for conveyancing in Eden Park but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
I require expedited conveyancing in Eden Park as I have pressure to exchange contracts in less than one month. Luckily I do not require a mortgage. Can I avoid the conveyancing searches to save fees and time?
As you are not obtaining a home loan you have the choice not to have searches conducted although no solicitor would advise that you don't. With lots of history conveyancing in Eden Park the following are examples of issues that can arise and adversely affect future mortgageability: Enforcement Actions, Overdue Fees, Overdue Grants, Unadopted Roads,...
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Eden Park is the location of the property. Is there any advice you can give?
Flying freeholds in Eden Park are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Eden Park you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Eden Park 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 premises.
How do I locate a Eden Park solicitor on the Alliance & Leicester conveyancing panel? I am a keen cyclist and am prepared to travel upto 10kilometers to meet the solicitor.
You can use the facility on this website. Please choose the mortgage company and your location and you will see a number of Eden Park conveyancing lawyers locally. We have listed some Eden Park conveyancing firms towards the end of this page and you can contact them to check whether they are on the Alliance & Leicester approved list
I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Eden Park. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Eden Park ?
The majority of houses in Eden Park are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Eden Park in which case you should be looking for a Eden Park conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your lawyer should appraise you on the various issues.
I inherited a garden flat in Eden Park. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
Most definitely. We are happy to put you in touch with a Eden Park conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Eden Park flat is 26 Manor Road in July 2010. the Tribunal decided that price to be paid for the freehold was £12,420 This case was in relation to 2 flats. The unexpired term was 76.75 and 88.83.