My partner and I swapping mortgage lender for our flat in Sedgefield with Kent Reliance. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose 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 property is repossessed. I have a couple of concerns (1) Is this document specific to the Kent Reliance conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
First, rest assured that your Kent Reliance 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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.
Can you clarify what the consequences are if my solicitor is expelled from the Lloyds Solicitor panel ahead of completing my conveyancing in Sedgefield?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
A colleague advised me that where I am purchasing in Sedgefield I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your Sedgefield conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Sedgefield around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Sedgefield Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Sedgefield Education with maps and statistics, Local Amenities and other useful data regarding Sedgefield.
Just acquired a semi-detached house in Sedgefield , how long will it take for the Land Registry to record my title? My Sedgefield conveyancing solicitor has been painfully slow, so I want to be certain that my purchase is registered.
As far as conveyancing in Sedgefield registration is no faster or slower than the rest of England and Wales. Rather than based on location, timeframes can differ subject to who lodges the application, whether there are errors and if the Land registry must send notices to any third parties. At present in the region of 80% of submission are fully dealt with in less than three weeks but some can be subject to longer delays. Registration is effected after the purchaser has moved in to the premises thus 'speed' is not always primary concern but if it is urgent that the the registration takes place urgently then you or your lawyers could communicate with the Registry to express the reasoning for the application to be prioritised.
When it comes to leasehold conveyancing in Sedgefield what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Sedgefield. All leases are unique and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
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Maintenance charge proportions which don’t add up to the correct percentage A provision to repair to or maintain parts of the building
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Mortgage Works, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.
Leasehold Conveyancing in Sedgefield - Sample of Questions you should ask Prior to buying
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What is the the remaining lease term? You should be aware if it is less than 80 years it will have adverse implications on the salability of the property. It is worth checking with your lender that they are content with the length of the lease. Leases with fewer than 80 years remaining means that you will almost definitely require a lease extension at some point and you need to have some idea of what this will be. For most Sedgefieldlease extensions you would need to own the property for two years in order to be eligible to extend the lease.
Why do I have to supply my property lawyer with numerous items of ID ahead of starting my conveyancing in Sedgefield?
Sedgefield conveyancers are required by the Law Society, SRA, HMLR and current Money Laundering Regulations to record that the have checked the identity of their clients. It is also sometimes a requirement of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to SDLT and need to have details such as your full names, NI number and date of birth.