My husband and I are refinancing our flat in Brewood with Nottingham. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Nottingham conveyancing panel as he never had to sign this form when we bought 4 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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.
Why is leasehold purchase conveyancing in Brewood is more expensive?
The conveyancing fees for a leasehold premises in Brewood is inevitably higher than on a freehold residence. This is because there is an amount of extra work necessary in dealing with the landlord and managing agents to obtain evidence about whether the rent and service charges have been discharged and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
I am purchasing a flat and need a conveyancing solicitor in Brewood who is on the Nottingham Building Society approved. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Nottingham Building Society in certain locations such as Brewood. We dont recommend any particular firm.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Brewood is where the house is located. Can you shed any light on this issue?
Flying freeholds in Brewood are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Brewood you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Brewood may decide 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.
I am hoping to complete next month on a leasehold property in Brewood. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Brewood should include some of the following:
-
Alterations to the premises Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? You must be informed what is to be regarded as a Nuisance as far as the lease is concerned Does the lease prevent you from subletting the flat, or having a home office for business What you can do if an adjoining owner is in violation of a provision in their lease?
I own a ground floor flat in Brewood, conveyancing was carried out in 2000. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Brewood with a long lease are worth £255,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease expires on 21st October 2098
With just 73 years left to run we estimate the premium for your lease extension to range between £8,600 and £9,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
I am considering using a web based solicitor rather than a Brewood conveyancing practice. Should I ‘stay local’?
There are advantages of having the opportunity to attend a local Brewood conveyancing solicitor such as
- signing papers same day
- getting face-to-face explanations of matters you don't understand
- the ability to raise concerns if things go pear-shaped
When comparing fees, look out for hidden extras. The majority decent Brewood high street solicitors give an all-inclusive price. Often online agents appear to offer low cost prices, but have burried 'extras' in the in the terms and conditions.