My wife and I are refinancing our maisonette in St Davids with Leeds Building Society. We have a son 18 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 apartment is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Leeds Building Society conveyancing panel as he never had to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Leeds Building Society 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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 purchased a freehold house in St Davids yet pay rent, why is this and what is this?
It is rare for properties in St Davids and has limited impact for conveyancing in St Davids but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Will my conveyancer be raising enquiries concerning flooding during the conveyancing in St Davids.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in St Davids. There are those who acquire a house in St Davids, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, however there are a numerous checks that may be undertaken by the buyer or by their lawyers which will give them a better understanding of the risks in St Davids. The standard property information forms given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the vendor to find out whether the property has suffered from flooding. If flooding has previously occurred and is not revealed by the vendor, then a buyer may issue a claim for damages stemming from an inaccurate answer. The purchaser’s lawyers may also conduct an enviro report. This should higlight if there is a recorded flood risk. If so, more detailed inquiries should be initiated.
How do I search for a St Davids solicitor on the Aldermore conveyancing panel? I have wheels and am prepared to travel upto 25miles to meet the conveyancer.
You can use the facility on this page. Please select a bank and your location and you will see a number of St Davids conveyancing lawyers based on proximity. We have detailed some St Davids conveyancing firms at the bottom of this page and you can telephone them to verify if they are on the Aldermore approved list
I am thinking of appointing a conveyancing solicitor in St Davids for my home move. Is there any facility to check a firm’s record with the profession’s regulator?
Anyone can review published Solicitor Regulator Association (SRA) decisions resulting from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA may monitor telephone calls for training requirements.
Can you provide any advice for leasehold conveyancing in St Davids from the point of view of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in St Davids can be reduced if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers. If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? St Davids leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. If you fail to have the consents in place you should not contact the landlord without contacting your lawyer in advance. You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. Many freeholders or Management Companies in St Davids charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in St Davids.
St Davids Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
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What prohibitions exist in the St Davids Lease? You should want to find out as much as possible regarding the company managing the building as they can either make your living at the property much simpler or uncomfortable. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to every day matters such as the upkeep of the common parts. Don't be afraid to ask other tenants what they think of them. On a final note, find out the dates that you are obliged pay the maintenance charge to the managing agents and precisely how they are spending that money. In the main the outlay for major works are not incorporated into the maintenance charges, although there some managing agents in St Davids require tenants to pay into a sinking fund created for the specific purpose of establishing a fund for major repairs or maintenance.