My mortgage broker has asked me for my The Park law firm’s panel member for the Santander conveyancing panel. Can you suggest how I find this out. I have contacted my local The Park branch but they have not got back to me yet.
Have you tried contacting your The Park property lawyer about this?. Most The Park law firms will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.
My wife and I are refinancing our flat in The Park with UBS. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose 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 flat is repossessed. I have a couple of questions (1) Is this document specific to the UBS conveyancing panel as he did not need 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?
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 UBS. This is solely used to protect UBS 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 UBS 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.
The deeds to my home are lost. The conveyancers who conducted the conveyancing in The Park 5 years ago no longer exist. Will I be able to sell the house?
These day there are duplicates made of almost everything, and your conveyancer will know exactly where to find all the relevant documentation so you can buy or dispose of your property without any difficulty. If copies can’t be located, your conveyancer can arrange cover in the form of insurance or indemnities protecting you against future claims on your property.
I have been on the look out for a leasehold apartment up to £235,500 and identified one round the corner in The Park I like with amenity areas and station nearby, the downside is that it's only got 61 years on the lease. I can't really find anything else in The Park suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term may be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
What does commercial conveyancing in The Park cover?
The Park conveyancing for business premises covers a broad range of services, supplied by regulated solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
Expecting to exchange soon on a garden flat in The Park. Conveyancing lawyers assured me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in The Park should include some of the following:
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Does the lease prevent you from subletting the flat, or having a home office for business Specifying your legal entitlements in respect of common areas in the block.By way of example, does the lease contain a right of way over a path or hallways? You need to be told what constitutes a Nuisance in the lease Alterations to the premises The unexpired lease term. You should receive guidance as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
The Park Leasehold Conveyancing - Sample of Queries before buying
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It is important to be aware if a new roof is being installed or some other major work is due shortly that will be shared by the leasehold owners and will dramatically impact the level of the maintenance charges or necessitate a specific payment. Where a The Park lease has fewer than 80 years it will impact the marketability of the flat. Check with your lender that they are happy with residual term of the lease. A short lease means that you will probably have to extend the lease sooner rather than later and you need to have some idea of what this will be. For most The Parklease extensions you would be be obliged to have been the owner of the premises for two years in order to be entitled to extend the lease. Are any of leasehold owners in arrears of their service charge liability?