My fiance and I changing mortgage lender for our penthouse in Crediton with Kent Reliance. 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 property is repossessed. I have a couple of concerns (1) Is this document specific to the Kent Reliance conveyancing panel as he did not need 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?
First, rest assured that your Kent Reliance 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 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.
Me and my partner are purchasing a apartment in Crediton. It might be a silly question but how we can trust a lawyer? At some point we have to send money into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Crediton?
There are many registered licenced Conveyancers in Crediton and Solicitor firms in Crediton who can assist with your conveyancing It is important to make clear that the two are regulated professionals specialising in the legal aspects of transferring property. They may both also deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I was told four weeks ago that my mortgage has been agreed to by Coventry BS. Is it usual for Coventry BS to only issue the offer once my solicitor in Crediton is approved on their conveyancing panel? Coventry BS have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Have completed on a a semi-detached house in Crediton , how long should it take for the Land Registry to record the transfer to my name? My Crediton conveyancing solicitor has been painfully slow, so I want to be certain the land registry aspects are addressed.
As far as conveyancing in Crediton registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can vary subject to who lodges the application, whether there are errors and whether the Land registry communicate with any other parties. As of today approximately three quarters of submission are fully addressed in less than three weeks but some can be subject to extensive hold-ups. Registration takes place once the buyer has moved in to the premises so post completion formalities is not usually primary concern but if there is a degree of urgency associated with the registration then you or your solicitor must speak with the land registry and explain the circumstances.
How does the Landlord & Tenant Act 1954 impact my business offices in Crediton and how can your lawyers assist?
The 1954 Act affords protection to commercial lessees, giving them the legal entitlement to apply to court for a continuation of occupancy at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Crediton is one of the numerous locations in which our lawyers are located
Do you have any top tips for leasehold conveyancing in Crediton from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Crediton can be reduced if you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers’ lawyers. If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Organising a replacement share certificate is often a time consuming formality and frustrates many a Crediton home move. If a duplicate share certificate is necessary, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible. You believe that you know the number of years left on your lease but it would be advisable double-check via your lawyers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. In the circumstances it is essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. Many freeholders or Management Companies in Crediton charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Crediton.
I inherited a basement flat in Crediton, conveyancing was carried out January 1997. Can you work out an approximate cost of a lease extension? Comparable properties in Crediton with over 90 years remaining are worth £175,000. The ground rent is £65 per annum. The lease expires on 21st October 2083
With only 58 years unexpired we estimate the premium for your lease extension to range between £23,800 and £27,400 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.
Are there any specific benefits to using a high street lawyer in Crediton
Many purchasers and sellers in Crediton opt for a nearby high street conveyancing practitioner so that they can visit if they have questions, and to execute documents rather than depending on the post.
There is a distinct advantage in selecting a conveyancer nearby to the premises you are purchasing, due to the knowledge of the locality and possible local issues - however this is moot. Most conveyancers are now over the internet and may be almost anywhere.