My wife and I are refinancing our apartment in Wickford with Principality. We have a son 19 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this document specific to the Principality conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) Does our son by signing this extinguish his entitlement 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 Principality. This is solely used to protect Principality 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 Principality 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.
My fiance and I are hoping to buy a 1 bedroom apartment in Wickford with a homeloan from Halifax.We have a Wickford conveyancing solicitor but Halifax advised that her practice is not on their approved list of member firms. We have to appoint a Halifax panel solicitor or keep our high street solicitor and fork out for a Halifax panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Halifax use our lawyer?
Unfortunately,no. The home loan issued to you is subject to its terms and conditions, one of which will be that solicitors will be on the Halifax solicitor panel. in the past, most lenders had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Halifax
Are there restrictive covenants that are commonly picked up during conveyancing in Wickford?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Wickford. 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 have been on the look out for a flat up to £195,000 and identified one close by in Wickford I like with a park and transport links in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in Wickford in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan that many years will likely be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
Is it possible to transfer to a new solicitor as I need to choose a firm on the Bank of Ireland conveyancing panel. I hired a local conveyancing solicitor in Wickford round the corner but he is not approved by Bank of Ireland
We will our best to assist in finding you a conveyancing solicitor in Wickford on the Bank of Ireland panel. Please note that the solicitors that we on the directory do not pay us commission if you instruct them and are regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Wickford. In utilising search facility on this site, you can compare fees for conveyancing solicitors in Wickford and throughout England and Wales.
I’m about to sell my basement apartment in Wickford. Conveyancing solicitors are to be appointed soon, but I have recently had a quarterly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal as all rents and maintenance payments will be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Wickford Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing
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Generally speaking the cost for major works tend not to be incorporated into the maintenance charges, although a few managing agents in Wickford ask leaseholders to pay into a sinking fund created for the specific purpose of building a fund for major works. Are any of leasehold owners in arrears of their service charge liability? It is important to be aware if window replacement or some other major work is coming up to be shared by the leaseholders and could well materially increase the the maintenance charges or result in a specific payment.