My wife and I changing mortgage lender for our maisonette in Epping with Nottingham. We have a son 19 who lives at home. Our solicitor requested us to identify 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 property is repossessed. I have a couple of questions (1) Is this document specific to the Nottingham conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Nottingham 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 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.
Can I use your services to find a Conveyancing solicitor in Epping even if I’m not purchasing or disposing of a house, for instance if I wish to acquire an office in Epping with a mortgage from HSBC Bank?
Our comparison service is predominantly used to locate residential conveyancing solicitors in Epping but we have listed at the end of this page a selection of Epping commercial conveyancing firms. You should make contact with the company directly to see if they can also act for HSBC Bank
We are buying a property in Epping. It might be a silly question but how we can trust a solicitor? At some point we will need to send our life savings into their account. What protection do we have from them run away with our monies?
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.
This question may be naive but I am unexperienced as FTB of a garden flat in Epping. Do I collect the keys to the property on the completion date from my solicitor? If this is the case, I will use a local conveyancing solicitor in Epping?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the seller's solicitors, and once they have received this, you should be invited to pick up the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
Intending to buy a flat in Epping. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Epping lawyer is on the UBS conveyancing panel.
I have been on the look out for a ground for flat up to £305k and found one near me in Epping I like with a park and station in the vicinity, however it only has 51 years on the lease. I can't really find anything else in Epping suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage the shortness of the lease will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
What tools are available to identify a Epping solicitor on the Lloyds TSB Bank conveyancing panel? I have wheels and am prepared to travel upto 25miles to meet the lawyer.
You can use the tool on this page. Please pick a mortgage company and your location and you will see a number of Epping conveyancing lawyers located nearest you. We have detailed some Epping conveyancing firms towards the end of this page and you can contact them to verify whether they are on the Lloyds TSB Bank approved list
If all goes to plan we aim to complete the disposal of our £450,000 flat in Epping on Friday in a week. The landlords agents has quoted £396 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Epping?
Epping conveyancing on leasehold maisonettes normally involves the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be content to do so. They may invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, otherwise the charge is technically not due. In reality you have little choice but to pay whatever is requested of you if you want to sell the property.
I inherited a ground floor flat in Epping, conveyancing having been completed 10 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Epping with over 90 years remaining are worth £185,000. The ground rent is £65 invoiced annually. The lease ceases on 21st October 2085
With only 60 years left to run we estimate the premium for your lease extension to be between £20,000 and £23,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.