My husband and I are refinancing our apartment in Park Royal with Skipton. We have a son 18 who lives with us. Our solicitor requested us to identify 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 flat is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Skipton conveyancing panel as he never had 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 Skipton. This is solely used to protect Skipton 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 Skipton 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.
It is 10 years ago since I purchased my property in Park Royal. Conveyancing lawyers have just been instructed on the sale but I am unable to locate my title deeds. Is this a major issue?
Don’t worry too much. Firstly the deeds may be kept by your mortgage company or they may stored with the conveyancers who oversaw your purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. Most conveyancing in Park Royal involves registered property but in the unlikely event that your home is not registered it is more of a problem but is not insurmountable.
I have been referred to a conveyancing solicitor in Park Royal. I need to find out if they are accepted on the Bank of Scotland conveyancing panel. Can you or the lender confirm if they are on the panel?
The first thing you should do is contact your conveyancer and ask them whether they are on the lender panel. Alternatively please get in touch with Bank of Scotland who may be able to help.
I have been told that property searches are the primary cause of stalling in Park Royal house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Park Royal.
I am purchasing my first flat in Park Royal with the aid of help to buy. The builders refused to budge the amount so I negotiated 6k of additionals instead. The estate agent told me not inform my lawyer about the extras as it may adversely affect my loan with HSBC Bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
We expect to complete the sale of our £225,000 maisonette in Park Royal next week. The managing agents has quoted £384 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Park Royal?
Park Royal conveyancing on leasehold apartments ordinarily results in administration charges levied by freeholders :
Answering pre-contract enquiries
Where consent is required before sale in Park Royal
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
My wife and I have hit a brick wall in trying to purchase the freehold in Park Royal. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We are happy to put you in touch with a Park Royal conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Park Royal residence is 99 Connell Crescent in May 2013. the Tribunal held that the relevant sum for the purposes of the lease extension should be £72,566 to be paid by the leaseholder This case was in relation to 1 flat. The unexpired residue of the current lease was 28.42 years.