My partner and I swapping mortgage lender for our apartment in Hale Barns with TSB. 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 lives in the flat. 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 TSB conveyancing panel as he did not need to sign this form when we remortgaged 4 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 TSB. This is solely used to protect TSB 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 TSB 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.
My bid for a property was accepted at auction in Hale Barns. Conveyancing is required. What are my next steps?
Having legally committed yourself to purchase you must instruct a conveyancing lawyer quickly as you will have a fast approaching a drop dead date to complete the conveyancing. All auction property should have a bespoke legal pack. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the auction papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You need to give this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that you have funds organised to complete on the date specified in the contract.
Can I be sure that the Hale Barns conveyancing solicitor on the Yorkshire BS panel is any good?
When it comes to conveyancing in Hale Barns getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor conducting your transaction.
I have finally had an offer on an apartment in Hale Barns accepted, but there is a chain. The sellers have offered on a property, however it’s not yet agreed to, and are looking at other flats in the pipeline. I have chosen a local conveyancing solicitor in Hale Barns. What do I do now? At what point do I apply for the mortgage with Nottingham?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of one thousand pounds, then survey, Hale Barns conveyancing search costs, etc). The first thing to do is ensure that your property lawyer is on the Nottingham conveyancing panel. Regarding the subsequent steps this very much dictated by the circumstances of your transaction, desire for this property and on the state of the market. During a buoyant market the majority of home buyers would apply for a home loan with Nottingham and pay for the valuation and only if it was satisfactory would they request their solicitor to press on with searches.
Despite weeks of looking the Title Certificate and documents to my property can not be found. The solicitors who conducted the conveyancing in Hale Barns 5 years ago are no longer around. What are my options?
As long as the title is registered the details of your proprietorship will be documented by HMLR under a Title Number. It is possible to perform a search at the Land Registry, find your house and obtain up to date copies of the property title for a small fee. Where the property is Leasehold then the Land Registry will in most cases hold a file copy of the Registered Lease and again, a copy can be ordered for a small fee.
I am looking for a flat up to £305k and identified one round the corner in Hale Barns I like with open areas and transport links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Hale Barns in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
In my capacity as executor for the estate of my father I am selling a residence in Cardiff but live in Hale Barns. My lawyer (based 200 miles from mehas requested that I sign a statutory declaration ahead of completion. Can you recommend a conveyancing solicitor in Hale Barns who can attest this legal document for me?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are based in Hale Barns
I work for a reputable estate agent office in Hale Barns where we have experienced a number of flat sales put at risk due to short leases. I have received inconsistent advice from local Hale Barns conveyancing firms. Could you shed some light as to whether the seller of a flat can instigate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I inherited a garden flat in Hale Barns, conveyancing formalities finalised 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Hale Barns with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ends on 21st October 2086
With just 61 years remaining on your lease we estimate the price of your lease extension to span between £18,100 and £20,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on 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 are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.