My wife and I are refinancing our penthouse in Warrington with Yorkshire BS. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal 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 Yorkshire BS conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your Yorkshire BS 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 Yorkshire BS. This is solely used to protect Yorkshire BS 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 Yorkshire BS 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.
I own a freehold residence in Warrington but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Warrington and has limited impact for conveyancing in Warrington but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Our mortgage company has recommended a law firm on their panel based in Warrington but I would rather choose a conveyancing lawyer in Warrington or nearer to where I live. Are you able to help?
It is by no means the case that all Warrington conveyancing firms are listed all lender’s conveyancing panel. Please make the most of the above find an approved solicitor tool to find a Warrington conveyancing conveyancer on the on the lender panel.
I am close to exchanging contracts on the sale of our home in Warrington and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A local conveyancer would know that there is no such problem. It does beg the question why the purchasers are using a factory type conveyancing firm as opposed to a conveyancing solicitor in Warrington. Having lived in Warrington for 5 years we know of no issue. Is it a good idea to contact our local Authority to obtain clarification that the buyers are looking for.
It would appear that you have a conveyancing firm already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
Are there restrictive covenants that are commonly picked up as part of conveyancing in Warrington?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Warrington. 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've recently bought a leasehold flat in Warrington. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Warrington Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
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How many of the leaseholders are in arrears for their maintenance charge payments? Please note if it is no more than eighty years it will impact the marketability of the property. Check with your bank that they are happy with residual term of the lease. Leases with fewer than 80 years remaining means that you will probably require a lease extension sooner rather than later and it is worth finding out how much this will be. For most Warringtonlease extensions you would need to own the premises for two years in order to be entitled to extend the lease. What restrictions exist in the Warrington Lease?