My partner and I swapping mortgage lender for our flat in Harold Wood with Coventry BS. 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 reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this document specific to the Coventry BS conveyancing panel as he did not need to sign this form when we purchased 3 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 Coventry BS. This is solely used to protect Coventry BS 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 Coventry BS 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.
We see that you have a post code search directory identifying solicitors on the Barclays conveyancing panel. Do companies pay you a commission if I instruct them for our own conveyancing in Harold Wood?
We are a listing service only for law firms wishing to communicate if they are on the Barclays conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Harold Wood.
Are there restrictive covenants that are commonly identified during conveyancing in Harold Wood?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Harold Wood. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a ground for flat up to £195,000 and identified one round the corner in Harold Wood I like with open areas and railway links in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in Harold Wood in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a mortgage the shortness of the lease may be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
Am I better off to use a Harold Wood conveyancing practitioner who is local to the property I am purchasing? I have an old university friend who can execute the conveyancing but her office is approximately 350kilometers drive away.
The primary upside of using a local Harold Wood conveyancing firm is that you can pop in to sign paperwork, hand in your ID and apply pressure on them if necessary. They will also have local insight which is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and in the main were content that should trump using an unknown Harold Wood conveyancing lawyer solely due to them being local.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Harold Wood. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Harold Wood ?
The majority of houses in Harold Wood are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Harold Wood in which case you should be looking for a Harold Wood conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will advise you fully on all the issues.
Having spent months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Harold Wood. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to determine the sum to be paid.
An example of a Lease Extension case for a Harold Wood premises is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The unexpired term was 57.5 years.