My wife and I changing mortgage lender for our flat in Stepney with RBS. We have a son approaching twenty who lives at home. Our solicitor requested us to identify 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, waiving any legal rights in the event that the apartment is repossessed. I have two questions (1) Is this document specific to the RBS conveyancing panel as he never had 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 RBS. This is solely used to protect RBS 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 RBS 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 note that you have a post code search directory listing firms on the Leeds Building Society conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in Stepney?
We are a listing service only for law firms wishing to communicate if they are on the Leeds Building Society conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Stepney.
I require expedited conveyancing in Stepney as I am faced with an ultimatum to sign on the dotted line in less than one month. Luckily I do not need a mortgage. Can I avoid the conveyancing searches to save money and time?
As you are not taking a mortgage you have the choice not to have searches carried out although no solicitor would suggest that you don't. Drawing on years of experience of conveyancing in Stepney the following are instances of what can be revealed and therefore affect market value: Enforcement Actions, Overdue Charges, Overdue Grants, Road Schemes,...
Just had an offer accepted on a new build flat in Stepney. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Stepney
Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Due to the encouragement of my in-laws I had a survey completed on a property in Stepney in advance of instructing lawyers. I have been informed that there is a flying freehold element to the house. The surveyor has said that some lenders will refuse to grant a mortgage on such a home.
It depends who your proposed lender is. Bank of Scotland has different requirements from Halifax. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Stepney. Conveyancing may be slightly more expensive based on your lender's requirements.
In my capacity as executor for the will of my grandmother I am selling a residence in Newport but reside in Stepney. My conveyancer (who is 200 kilometers from meneeds me to sign a statutory declaration before the transaction finalising. Could you suggest a conveyancing lawyer in Stepney to witness this legal document for me?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are based in Stepney