My partner and I intend to remortgage our apartment in Sunbury On Thames 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 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 flat is repossessed. I have a couple of concerns (1) Is this form unique to the Virgin Money conveyancing panel as he did not need to sign this form when we purchased 4 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.
We are planning to acquire a house and need a conveyancing solicitor in Sunbury On Thames who is on the Coventry BS solicitor panel. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Coventry BS . We don't recommend any particular firms conducting conveyancing in Sunbury On Thames.
We are buying a house and the lawyer has identified Chancel Repair for which the house may be liable because it falls into the area of such a church. He has mentioned insurance. Is this strictly warranted for conveyancing in Sunbury On Thames
Unless a prior acquisition of the house took place post 12 October 2013 you could expect conveyancing practitioners handling conveyancing in Sunbury On Thames to continue to recommend a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Sunbury On Thames?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Sunbury On Thames. 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 £305k and identified one close by in Sunbury On Thames I like with a park and station nearby, however it only has 61 years unexpired on the lease. I can't really find anything else in Sunbury On Thames for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a home loan the shortness of the lease may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.