My partner and I intend to remortgage our flat in Stamford Bridge with Virgin Money. We have a son 19 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, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this document specific to the Virgin Money conveyancing panel as he did not need to sign this form when we remortgaged 4 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 Virgin Money. This is solely used to protect Virgin Money 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 Virgin Money 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 are getting the release of further monies on our home loan from Skipton as we intend to conduct a loft conversion to our property in Stamford Bridge. Are we obliged to appoint a nearby Stamford Bridge solicitor on the Skipton conveyancing panel to handle the paperwork?
Skipton do not ordinarily require a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton list.
We have a mortgage agreed in principle with Yorkshire BS. Stamford Bridge conveyancing lawyers are chosen. How long does it take for Yorkshire BS to issue the offer to the conveyancing practitioner?
There is no definitive answer here. Have Yorkshire BS done the survey? Have you advised Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Skipton have agreed my home loan in principle, my offer on a property in Stamford Bridge has been accepted, now what?
The property agent will need to be advised as to your property lawyer's details (ensure that the conveyancers are on the lender’s approved list). Telephone Skipton or your financial adviser and complete any outstanding forms. Skipton will appoint a valuer who will get in contact with the selling agent or vendor to schedule a slot for the valuation to take place. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Skipton will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Stamford Bridge.
A colleague advised me that where I am purchasing in Stamford Bridge I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Stamford Bridge conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Stamford Bridge around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Stamford Bridge Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Stamford Bridge Education with maps and statistics, Local Amenities and other useful information concerning Stamford Bridge.
The deeds to my home can not be found. The solicitors who conducted the conveyancing in Stamford Bridge 4 years ago are no longer around. Will I be able to sell the house?
You no longer need to have the physical deeds to establish that you own the land or property, given that the Land Registry hold details of all registered land or property electronically.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a simple, no chain conveyancing. Stamford Bridge is the location of the property. Can you shed any light on this issue?
Flying freeholds in Stamford Bridge are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stamford Bridge you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stamford Bridge 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 premises.
Back In 2000, I bought a leasehold flat in Stamford Bridge. Conveyancing and Barclays mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Stamford Bridge who previously acted has long since retired. Any advice?
First contact HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Stamford Bridge conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Leasehold Conveyancing in Stamford Bridge - Sample of Queries Prior to Purchasing
Best to be warned if a new roof is being installed or some other significant cost is coming up that will be shared by the leaseholders and could well materially impact the level of the maintenance fees or result in a one time invoice. You should be aware if it is less than eighty years it will impact the value of the property. Check with your lender that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will probably require a lease extension at some point and you need to have some idea of how much this would cost. For most Stamford Bridgelease extensions you would need to own the property for two years before you are eligible to exercise a lease extension. Does the lease have onerous restrictions?