My husband and I changing mortgage lender for our penthouse in Walton on the Hill with Co-operative. We have a son 19 who lives at home. Our solicitor has asked us to disclose 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 property is repossessed. I have a couple of concerns (1) Is this form unique to the Co-operative conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Co-operative conveyancing panel solicitor is doing the right thing 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 Co-operative. This is solely used to protect Co-operative 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 Co-operative 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.
What is the first thing I need to know concerning purchase conveyancing in Walton on the Hill?
You may not hear this from too many lawyers but conveyancing in Walton on the Hill and elsewhere in England and Wales is often a confrontational process. In other words, when it comes to conveyancing there is lots of opportunity for conflict between you and others involved in the house moving process. For instance, the vendor, estate agent and even potentially your lender. Appointing a law firm for your conveyancing in Walton on the Hill should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the legal process whose role it is to act in your legal interests and to keep you safe.
Sometimes a third party with a vested interest may attempt to persuade you that it is in your interests to do things their way. For instance, the estate agent may claim to be assisting by claiming that your solicitor is wrong. Or your mortgage broker may try to convince you to do take action that is contrary to your solicitors guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
My Conveyancer in Walton on the Hill is not on the Virgin Money Approved Panel. Can I still retain my family solicitor even though they are not on the Virgin Money approved list?
The limited options open to you here include:
- Complete the purchase with your existing Walton on the Hill solicitors but Virgin Money will need to retain a conveyancer on their panel. This will inevitably rack up the total legal charges as well as cause delays.
- Get a new practitioner to to deal with the purchase, obviously checking they are Persuade your lawyer to do everything within their powers to join the Virgin Money conveyancing panel
Should our lawyer be asking questions about flooding as part of the conveyancing in Walton on the Hill.
Flooding is a growing risk for conveyancers conducting conveyancing in Walton on the Hill. Some people will purchase a house in Walton on the Hill, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to impart advice on flood risk, however there are a numerous checks that can be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Walton on the Hill. The conventional set of information supplied to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the vendor to find out if the property has suffered from flooding. In the event that the premises has been flooded in past which is not disclosed by the vendor, then a purchaser may commence a legal claim for losses stemming from an incorrect response. The buyer’s solicitors may also order an environmental search. This should higlight if there is any known flood risk. If so, further investigations should be made.
Having checked my lease I have discovered that there are only 68 years unexpired on my flat in Walton on the Hill. I now want to extend my lease but my freeholder is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to prove that you have done all that could be expected to track down the landlord. For most situations an enquiry agent would be useful to carry out a search and prepare a report to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Walton on the Hill.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Walton on the Hill conveyancing firm to represent me?
You certainly can. We can put you in touch with a Walton on the Hill conveyancing firm who can help.
An example of a Lease Extension case for a Walton on the Hill flat is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The unexpired term was 60.43 years.