My fiance and I swapping mortgage lender for our penthouse in Hampton with Aldermore. We have a son 19 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 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 property is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Aldermore conveyancing panel as he did not need to sign this form when we bought 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 Aldermore. This is solely used to protect Aldermore 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 Aldermore 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 require fast conveyancing in Hampton as I am faced with an ultimatum to sign on the dotted line in less than one month. Luckily I do not need a mortgage. Can I escape the need for conveyancing searches to save fees and time?
As you are are a cash buyer you have the choice not to have searches conducted although no law firm would advise that you don't. With plenty of history conveyancing in Hampton the following are instances of what can be revealed and therefore affect the marketability of the property: Refused Planning Applications, Outstanding Fees, Overdue Grants, Unadopted Roads,...
Just had an offer accepted on a new build flat in Hampton. Conveyancing is necessary evil 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 selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Hampton
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are architect prepared.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Hampton I like with a park and transport links in the vicinity, however it only has 61 years on the lease. I can't really find anything else in Hampton for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the shortness of the lease will likely be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
My company is hoping to take an assignment of a lease of a shop on the high street. Can you recommend solicitors offering competitive costs for commercial conveyancing in Hampton for under £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Hampton, including the disposal and acquisition of businesses as well as simply property. If you are looking to acquire or dispose of a shop, pub, restaurant, office, retail premises or a whole business we can put you in touch with the right lawyer. Regarding the charges this will depend on the structure and nuances of the proposed transaction. Let us have your contact information or phone us so that we may furnish you with a detailed commercial conveyancing quote.
Due to complete next month on a ground floor flat in Hampton. Conveyancing lawyers inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Hampton should include some of the following:
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Rent payments - how much and when is collected, and be on notice if this is subject to change Responsibility to repair and maintain the block. It is essential for you to know which party is duty bound to repair and maintenance of every part of the building The total extent of the property. This will be the flat itself but could also incorporate a roof space or storage are if applicable. How long the lease is. You should receive guidance as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years You should have a good understanding of the insurance requirements
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Hampton conveyancing firm to act on my behalf?
Most certainly. We can put you in touch with a Hampton conveyancing firm who can help.
An example of a Lease Extension case for a Hampton premises is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The unexpired residue of the current lease was 82.93 years.