My partner and I are refinancing our flat in Sudbury with Virgin Money. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose any adults 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 property is repossessed. 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 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 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.
Do banks and building societies provide you with an approved list of Sudbury conveyancing solicitors? How do you know who is on the Barclays conveyancing panel?
Sudbury conveyancing firms themselves provide us confirmation that they are on the Barclays conveyancing panel as opposed to being supplied with a list from Barclays directly.
My stepmother advised me that in buying a property in Sudbury there could be a number of restrictions preventing external changes to a property. Is this right?
There are anumerous of properties in Sudbury which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Sudbury should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have decided to exercise my right to buy my property in Sudbury off the council. I have a mortgage offer with Lloyds. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Sudbury building society branch on numerous occasions and was told they are content with the situation and they would lend. My Sudbury conveyancing solicitor - who is on the bank conveyancing panel- called to say that they would not lend based on their specific requirements. I have no idea who is right.
Provided that the property lawyer is on the bank approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
How does the Landlord & Tenant Act 1954 impact my commercial premises in Sudbury and how can your lawyers assist?
The 1954 Act provides a safeguard to business tenants, giving them the right to make a request to court for a new lease and remain in occupation when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act for protection and assist with commercial conveyancing in Sudbury
I need to retain a conveyancing solicitor for sale conveyancing in Sudbury. I happened to stumble across a site which seems to have the ideal answer If it is possible to get all formalities completed via phone that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My wife and I may need to rent out our Sudbury ground floor flat temporarily due to a career opportunity. We instructed a Sudbury conveyancing firm in 2004 but they have closed and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?
Even though your previous Sudbury conveyancing lawyer is not around you can check your lease to check if you are permitted to let out the property. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek permission from your landlord or some other party prior to subletting. This means that you cannot sublet without first obtaining permission. Such consent is not allowed to be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
Despite our best efforts, we have been unsuccessful in trying to reach an agreement for a lease extension in Sudbury. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Sudbury conveyancing firm who can help.
An example of a Lease Extension case for a Sudbury premises is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case affected 1 flat. The number of years remaining on the existing lease(s) was 74 years.