We were about to instruct a conveyancing solicitor in Little Ilford recommended by you but have come across alternative estimates on the internet appear less pricey – why is this?
You can find hundreds of solicitors advertising at first sight what seems to be very low prices. We would urge you to give due consideration as to how much you respect your own move to you are willing to take 'cheap' risks in relation to the quality of the conveyancing. Many of them list a cheap quote to entice you but hide additional charges in the fine print..
My fiance and I are refinancing our flat in Little Ilford with Kent Reliance. We have a son 19 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Kent Reliance conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this giving up 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Little Ilford?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Little Ilford. 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 am looking for a leasehold apartment up to £195,000 and identified one close by in Little Ilford I like with open areas and transport links nearby, however it's only got 52 years on the lease. I can't really find anything else in Little Ilford in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I have been recommended by a number of property agents in Little Ilford to select a solicitor on your site. Is there a financial advantage for Estate Agents to offer your services over a competitor’s?
We refuse to give any commission for pointing buyers and sellers in our direction. We found it would be just too difficult a fee because home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.