My wife and I are refinancing our penthouse in Stamford Bridge with TSB. We have a son 19 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have two concerns (1) Is this document specific to the TSB conveyancing panel as he did not need 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 TSB. This is solely used to protect TSB 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 TSB 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.
Are there restrictive covenants that are commonly identified during conveyancing in Stamford Bridge?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Stamford Bridge. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a leasehold apartment up to £195,000 and identified one near me in Stamford Bridge I like with open areas and station nearby, however it's only got 52 years on the lease. There is not much else in Stamford Bridge in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
What makes your site different to other internet conveyancing solicitors when it comes to conveyancing in Stamford Bridge?
At this site get a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Stamford Bridge. Unlike many estate agents and brokerage sites we do not charge firms a fee if you select them for your home move in Stamford Bridge
My husband and I are a couple of weeks into a freehold purchase having been referred to conveyancers by the high street agent to carry out the conveyancing in Stamford Bridge. I am not happy. Can you help me find new lawyers?
They would have to be very poor to suggest changing them. Has your loan offer been sent? In the event that it has you will need to inform them of the new contact details and have the offer are re-issued. The solicitor ideally should be on the mortgage company approved list to avoid added expenses and delays. That should be your starting point. The find a solicitor tool will assist you in finding a bank approved solicitor for your home move in Stamford Bridge
I have recently realised that I have Seventy years unexpired on my lease in Stamford Bridge. I now want to extend my lease but my landlord is absent. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the landlord. In some cases an enquiry agent should be useful to try and locate and prepare a report which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court covering Stamford Bridge.
Leasehold Conveyancing in Stamford Bridge - A selection of Questions you should consider Prior to Purchasing
Does this lease have in excess of 82 years unexpired? What is the name of the managing agents? The best form of lease arrangement is a share of the freehold. In this scenario the tenants have being in charge if their destiny and although a managing agent is frequently retained if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.