My fiance and I intend to remortgage our penthouse in Exmouth with Nationwide. We have a son 18 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have two questions (1) Is this form unique to the Nationwide conveyancing panel as he never had 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 Nationwide 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 Nationwide. This is solely used to protect Nationwide 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 Nationwide 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 Exmouth even if I’m not purchasing or selling a house, for example if I intend to acquire an office in Exmouth with a mortgage from Halifax?
The service is predominantly there to find residential conveyancing solicitors in Exmouth but we have listed towards the end of this page a selection of Exmouth commercial conveyancing firms. You should enquire with the firm directly to see if they can also act for Halifax
3 months have gone by since my purchase conveyancing in Exmouth took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
In my capacity as executor for the will of my grandfather I am disposing of a property in Monmouth but I am based in Exmouth. My lawyer (based 250 miles from merequires that I sign a stat dec before the transaction finalising. Can you recommend a conveyancing lawyer in Exmouth who can witness this legal document for me?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are located in Exmouth
What advice can you give us when it comes to finding a Exmouth conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Exmouth conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Exmouth conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:
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If they are not ALEP accredited then why not? Can they put you in touch with clients in Exmouth who can give a testimonial?
I acquired a basement flat in Exmouth, conveyancing was carried out January 1997. How much will my lease extension cost? Similar flats in Exmouth with an extended lease are worth £190,000. The ground rent is £45 per annum. The lease comes to an end on 21st October 2088
You have 62 years left to run the likely cost is going to span between £17,100 and £19,800 plus professional fees.
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. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
What are the specific advantages to selecting a local conveyancing practitioner in Exmouth
Plenty of house movers in Exmouth choose a nearby high street conveyancing practitioner so that they can visit in the event that they have problems, and to deliver mortgage deeds rather than depending on the post.
There is a marginal edge in opting for a solicitor local to the house you are purchasing, due to the knowledge of the area and potential local concerns - but this is debatable. Most conveyancers carry out their communications over the web and could be anywhere in the world.