My partner and I are buying an apartment in Hambleton. My property lawyer is not listed on the bank solicitor panel. Am I still permitted to use my Hambleton conveyancing solicitor even though they are not on the mortgage company approved list?
One will need to instruct a property lawyer to deal with the legal work required when you require a loan to purchase your property. They will carry out all the essential due diligence on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage paperwork is in order. You may appoint a Hambleton conveyancing practitioner of your choice. However, where the solicitor appointed is not a member of the lender solicitor panel further charges will arise as separate legal representation will be need by the mortgage company. Bank panel applications can be submitted, so provided your conveyancer has not historically applied for membership they can do so.
My wife and I are refinancing our flat in Hambleton with UBS. We have a son 18 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 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 apartment is forfeited by the lender. I have two questions (1) Is this document specific to the UBS conveyancing panel as he never had to sign this form when we bought 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 UBS 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 UBS. This is solely used to protect UBS 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 UBS 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.
We are due to move house in June. Does my conveyancing solicitor update the removal company on the completion day. Incidentally, can you recommend a removal company in Hambleton. Conveyancing lawyer was found prior to coming across this site.
On the afternoon of completion you will need to collect the keys from your estate agent however this should only happen when the sellers conveyancers confirm to the agent that the monies to complete are in and the keys can be handed over. After that you will need to tell the removal men that you are ready to move in. We do not suggest a particular removal organisation but can assist you in locating a residential property solicitor in Hambleton or a legal practice with expertise in conveyancing in Hambleton.
I have decided to exercise my right to buy my property in Hambleton off the council. I have a mortgage offer with Clydesdale. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
About to purchase apartment in Hambleton. 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 Skipton 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 Hambleton property lawyer is on the Skipton conveyancing panel.
My relative recommended that if I am purchasing in Hambleton I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Hambleton conveyancing searches. It is not a small report of about 40 pages, listing and detailing important information about Hambleton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Hambleton Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information about Hambleton.
I have been on the look out for a ground for flat up to £245,000 and identified one round the corner in Hambleton I like with a park and station in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Hambleton for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage that many years will likely be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
I am employed by a busy estate agency in Hambleton where we have witnessed a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Hambleton conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.
I invested in buying a split level flat in Hambleton, conveyancing formalities finalised August 2009. How much will my lease extension cost? Corresponding properties in Hambleton with a long lease are worth £211,000. The ground rent is £50 charged once a year. The lease expires on 21st October 2093
With just 68 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.