My wife and I changing mortgage lender for our penthouse in Laleham with Principality. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Principality 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 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.
Me and my brother own a 4 bedroom Edwardian property in Laleham. Conveyancing practitioner acted for me and Chelsea Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Laleham and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing lawyer who conducted the conveyancing.
I am looking for a ground for flat up to £235,500 and found one near me in Laleham I like with amenity areas and station in the vicinity, the downside is that it only has 52 years on the lease. There is not much else in Laleham suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a mortgage that many years will likely be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
Am I best advised to appoint a Laleham conveyancing practitioner who is local to the property I am hoping to buy? We have a good friend who can perform the conveyancing however they are based over three hundred kilometers away.
The primary upside of using a local Laleham conveyancing firm is that you can visit the firm to execute documents, hand in your identification documents and pester them where appropriate. Having local Laleham know how is a plus. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and they were impressed that should trump using an unknown Laleham conveyancing lawyer solely due to them being round the corner.
My wife and I purchased a leasehold house in Laleham. Conveyancing and Clydesdale mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Laleham who acted for me is not around. Any advice?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Laleham conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
My wife and I have hit a brick wall in trying to purchase the freehold in Laleham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the sum to be paid.
An example of a Lease Extension case for a Laleham flat is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case was in relation to 1 flat. The unexpired term was 82.93 years.