My wife and I are refinancing our flat in Peckham with Nottingham. We have a son approaching twenty who lives at home. Our solicitor requested us to identify any adults 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 repossessed. I have two concerns (1) Is this form unique to the Nottingham conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) Does our son by signing this compromise his rights to inherit the property?
First, rest assured that your Nottingham 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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.
Will my solicitor be raising questions regarding flooding during the conveyancing in Peckham.
Flooding is a growing risk for conveyancers dealing with homes in Peckham. There are those who acquire a house in Peckham, completely expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, but there are a number of checks that may be carried out by the purchaser or on a buyer’s behalf which will figure out the risks in Peckham. The conventional set of completed inquiry forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the seller to discover if the premises has suffered from flooding. If flooding has previously occurred and is not notified by the seller, then a buyer may commence a legal claim for losses as a result of such an incorrect reply. A buyer’s solicitors may also commission an environmental search. This should reveal if there is any known flood risk. If so, more detailed investigations will need to be initiated.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Peckham is the location of the property. Is there any guidance you can impart?
Flying freeholds in Peckham are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Peckham you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Peckham may determine 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 property.
How does the Landlord & Tenant Act 1954 impact my commercial premises in Peckham and how can you help?
The particular law that you refer to affords a safeguard to business leaseholders, giving them the dueness to make a request to court for a continuation of occupancy at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act for protection and help with commercial conveyancing in Peckham
I need to retain a conveyancing solicitor for leasehold conveyancing in Peckham. I've discover a web site which appears to be the perfect answer If there is a chance to get all this stuff completed via web that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Having spent years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Peckham. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We can put you in touch with a Peckham conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Peckham flat is 31 Kings Grove in January 2012. By a claim form issued on 11" August 2011 under action number 1LB01618 in the Lambeth County Court the applicant tenants sought dispensation under section 26 of the Leasehold Reform, Housing and Urban Development Act 1993 from the requirement to serve a notice under section 13 of that Act in order to purchase the freehold of the premises. The Tribunal decided the amount payable for the freehold as £10,728 This case was in relation to 2 flats. The unexpired term as at the valuation date was 80.5 years.
What makes a Peckham lease defective?
There is nothing unique about leasehold conveyancing in Peckham. Most leases are unique and drafting errors can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
Maintenance charge proportions which don’t add up to the correct percentage
You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Coventry Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.