My husband and I are refinancing our penthouse in Castleton with RBS. We have a son approaching twenty who lives at home. 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 apartment is forfeited by the lender. I have a couple of questions (1) Is this document specific to the RBS conveyancing panel as he did not need to sign this form when we bought 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 RBS 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 RBS. This is solely used to protect RBS 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 RBS 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.
I am considering applying for a Bank of Ireland mortgage for purchase of a new build (under development) in Castleton with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Bank of Ireland ?
In theory, you could use a solicitor that is not on the Bank of Ireland conveyancing panel, but Bank of Ireland would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I am intent on selling our home in Castleton and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any high street Castleton conveyancer would know this is not the case. For the life of me I don't know why the buyers are using an internet conveyancing practice as opposed to a conveyancing solicitor in Castleton. We have lived in Castleton for 5 years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain clarification that there is no issue.
It sounds as though you may have a conveyancing firm already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
My husband and I are 14 days into a leasehold purchase having been directed to conveyancers by the selling agent to execute conveyancing in Castleton. I am am very dissatisfied with the quality of service. Could you help me find new solicitors?
A conveyancer would have to be really bad in order to consider diss instructing them. Has your mortgage been sent? If so you must inform them of the replacement conveyancer and get the loan are re-sent. The solicitor ideally should be on the lenders panel to avoid escalating charges and frustration. So that should be your first question of the new solicitors. The search tool will assist you in finding a bank approved solicitor for your home move in Castleton
Last December I purchased a leasehold flat in Castleton. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a garden flat in Castleton, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Castleton with over 90 years remaining are worth £207,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease ends on 21st October 2082
With only 57 years remaining on your lease we estimate the price of your lease extension to range between £28,500 and £33,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
We have just had an offer accepted on our 1st home in Castleton, and are now looking to get solicitors instructed. I have used the numerous comparison based websites and the results are from all over the England and Wales. Is it necessary to have a Castleton lawyer local to your prospective property? We are fine to do all the communicating over email, but I assume at some point we may need to visit the property lawyer's office to sign contracts?
The solicitor does not have to be in Castleton, but choosing local means that you can go in if needed, for instance, if a signature is needed urgently. Also, a Castleton solicitor have established relationships with local agents and (if the vendor has chosen a local lawyer) with them, which should help smooth the process.