I have just been advised by my mortgage adviser that my Bedfordshire solicitor is not on the mortgage company Solicitor panel. What can I do to be sure whether this is correct?
The best course of action for you to take is to contact your Bedfordshire lawyer directly. It is reasonable to expect your lawyer to inform you of the situation. Where they are not on the panel they may recommend you to a Bedfordshire conveyancing practice that is on the conveyancing panel for your mortgage company.
My wife and I intend to remortgage our apartment in Bedfordshire with Clydesdale. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this document specific to the Clydesdale conveyancing panel as he did not need to sign this form when we remortgaged 5 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 Clydesdale 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 Clydesdale. This is solely used to protect Clydesdale 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 Clydesdale 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.
A colleague recommended that if I am purchasing in Bedfordshire I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Bedfordshire conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Bedfordshire around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information about Bedfordshire.
How does conveyancing in Bedfordshire differ for newly converted properties?
Most buyers of new build residence in Bedfordshire approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is completed. This is because developers in Bedfordshire typically buy the site, 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 property lawyers 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 Bedfordshire or who has acted in the same development.
I need to instruct a conveyancing solicitor for freehold conveyancing in Bedfordshire. I have land on a site which appears to be the ideal solution If there is a chance to get all the legals done via web that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Having checked my lease I have discovered that there are only Fifty years remaining on my lease in Bedfordshire. I am keen to get lease extension but my landlord is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to track down the landlord. For most situations a specialist would be helpful to conduct investigations and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Bedfordshire.
I own a split level flat in Bedfordshire, conveyancing formalities finalised 4 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Bedfordshire with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease runs out on 21st October 2086
With just 60 years remaining on your lease we estimate the premium for your lease extension to be between £20,000 and £23,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.