My fiance and I intend to remortgage our apartment in Upney with UBS. We have a son 18 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have two concerns (1) Is this form unique to the UBS conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this extinguish his rights 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.
Is there a reason why leasehold purchase conveyancing in Upney costs more?
In short, leasehold conveyancing in Upney and London usually involve additional hours of investigation compared to freehold conveyancing. This includes checking the lease terms, communicating with the landlord about the service of required notices, securing current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
My aunt passed away six months ago and as sole heir and executor I was left the house in Upney. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Santander, pay off the mortgage. Is this possible?
Where you intend to refinance then Santander will require that you use a conveyancer on the Santander conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Santander conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Santander mortgage is registered as a charge at the Land Registry.
I am looking into buying my first house which is in Upney and I am already nervous. I couldn't find anything specific about Upney. Conveyancing will be needed in due course but do you know about the Upney area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Upney. In the meantime here are some basic statistics that we found
We are one month into a freehold purchase having been recommend to a firm by the selling agent to carry out the conveyancing in Upney. I am not happy. Could you you assist me in finding new lawyers?
They would have to be very poor in order to consider changing them. Has your loan offer been issued? If so you need to inform them of the new contact details and get the loan are re-sent. The solicitor ideally needs to be on the banks panel to avoid added charges and complications. That should be your starting point. Our search tool can assist you in finding a bank approved solicitor for your conveyancing in Upney
My wife and I have hit a brick wall in negotiating a lease extension in Upney. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We are happy to put you in touch with a Upney conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Upney property is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case was in relation to 1 flat. The unexpired residue of the current lease was 61.36 years.
What are the common deficiencies that you encounter in leases for Upney properties?
Leasehold conveyancing in Upney is not unique. All leases are unique and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
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A duty to insure the building
You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, The Mortgage Works, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.