My fiance and I changing mortgage lender for our apartment in Aldershot with UBS. We have a son 18 who lives at home. Our solicitor requested us to identify 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 apartment is repossessed. I have a couple of concerns (1) Is this document specific to the UBS conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your UBS 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 UBS. This is solely used to protect UBS 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 UBS 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.
My bank has recommended solicitors on their panel based in Aldershot but I would rather instruct a conveyancing lawyer in Aldershot local to me. Can you help?
It is by no means the case that all Aldershot conveyancing solicitors are approved and listed on all banks conveyancing panel. Do make use of the above find an approved solicitor tool to identify a Aldershot conveyancing firm on the on the mortgage company panel.
How does conveyancing in Aldershot differ for newly converted properties?
Most buyers of new build property in Aldershot come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in Aldershot typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Aldershot or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Aldershot is the location of the property. What do you suggest?
Flying freeholds in Aldershot are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Aldershot you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Aldershot may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Taking into account that I am about to part with over three hundred thousand on a house in Aldershot I would like to have a conversation with the lawyer regarding thetransaction prior to appointing the firm. Can this be arranged?
We could not agree more - we would be delighted to talk to you we do not take any clients on without you speaking to the lawyer who will be doing your property ownership legalities in Aldershot.There is no ‘factory style conveyancing’ - every client is an important person, not a case number. The law firms that we put you in touch with believe that the figure you are quoted for residential conveyancing in Aldershot should be the amount on the final invoice that you are charged.
Back In 2008, I bought a leasehold flat in Aldershot. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Aldershot who acted for me is not around. Do I pay?
First contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Aldershot conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a 1 bedroom flat in Aldershot, conveyancing was carried out 6 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Aldershot with a long lease are worth £192,000. The ground rent is £55 yearly. The lease ceases on 21st October 2080
With 54 years left to run the likely cost is going to span between £32,300 and £37,400 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.