My wife and I changing mortgage lender for our apartment in Bury with Kent Reliance. We have a son 18 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, giving up any rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Kent Reliance conveyancing panel as he did not need to sign this form when we bought 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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.
Do lenders provide you with an approved list of Bury conveyancing solicitors? How do you know who is on the RBS conveyancing panel?
Bury conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.
My mortgage company has recommended solicitors on their panel based in Bury but I would rather instruct a conveyancing lawyer in Bury or nearer to where I live. Are you able to assist?
The minority of Bury conveyancing solicitors are listed all banks conveyancing panel. Use the above find an approved solicitor tool to find a Bury conveyancing firm on the on the lender panel.
I understand that there are debates on Chancel Insurance on online forums. Am I compelled to have this when buying a house in Bury? or I am told that there is a law dating back centuries that means some house owners residing in a parish church boundary will be compelled to contribute towards repairs towards the chancel within the church. Is this suitable for conveyancing in Bury?
Unless a prior acquisition of the property took place post 12 October 2013 you may assume that lawyers carrying out conveyancing in Bury to remain recommending a chancel search and or insurance against a claim.
I am buying a new build house in Bury with a loan from Virgin Money. The sellers refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not reveal to my solicitor about this side-deal as it would adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am in need of some leasehold conveyancing in Bury. Before diving in I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Bury - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a split level flat in Bury, conveyancing having been completed January 2008. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Bury with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ceases on 21st October 2080
You have 55 years remaining on your lease we estimate the premium for your lease extension to be between £31,400 and £36,200 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns 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 without first seeking the advice of a professional.