The loan offer from Nationwide for the remortgage of my 4 bedroom garden flat is expected imminently. Could you put forward a cheap conveyancing practitioner in Bampton?
You are on the wrong site if you are in need of the lowest fares for conveyancing solicitors in Bampton. Our aim is to provide value for money conveyancing but we do not aim to advertise as being the cheapest. Resist the temptation to appoint brokers enticing you with low cost conveyancing in Bampton. At best, in deciding on low cost conveyancing, you will receive what you pay for and at worst it will result in you being stung for additional fees and still not get the service expected.
My wife and I intend to remortgage our maisonette in Bampton with Lloyds. We have a son 19 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Lloyds conveyancing panel as he never had to sign this form when we purchased 3 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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.
The Bampton conveyancing firm that I appointed last week on my purchase in Bampton have without warning closed. They were on acting for me because I needed a lawyer on the Nottingham conveyancing panel and my previous Bampton lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Nottingham conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
It has been 2 months following my purchase conveyancing in Bampton took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the encouragement of my in-laws I had a survey completed on a house in Bampton before retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies tend not issue a loan on this type of property.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. If you e-mail us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bampton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bampton to see if the conveyancing costs will increase in light of this.
Back In 2007, I bought a leasehold house in Bampton. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Bampton who acted for me is not around. Do I pay?
First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Bampton conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a ground floor flat in Bampton, conveyancing having been completed in 2001. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Bampton with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2085
With only 61 years remaining on your lease we estimate the price of your lease extension to range between £19,000 and £22,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.