My wife and I intend to remortgage our flat in Haverhill with TSB. We have a son approaching twenty 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. The solicitor has now sent a form 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 concerns (1) Is this form unique to the TSB conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this compromise his rights 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.
Are the BSA intent on creating a online directory to list solicitors on the Loughborough BS conveyancing panel for example in Haverhill?
We are not aware of any plans on the part of the BSA to promote such a search facility.
Will my conveyancer be raising enquiries concerning flooding as part of the conveyancing in Haverhill.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Haverhill. Some people will purchase a house in Haverhill, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, but there are a various checks that can be undertaken by the buyer or by their solicitors which can figure out the risks in Haverhill. The standard property information forms sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to find out whether the premises has suffered from flooding. In the event that flooding has previously occurred which is not disclosed by the vendor, then a buyer may bring a compensation claim as a result of such an misleading answer. The purchaser’s lawyers may also order an enviro search. This should reveal whether there is a recorded flood risk. If so, further inquiries will need to be made.
I have recentlybeen informed that Arc property Solicitors have been shut down. They conducted my conveyancing in Haverhill for a purchase of a leasehold flat 10 months ago. How can I check that my home is not still registered in the name of the previous owner?
The easiest way to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Haverhill conveyancing specialists.
My father-in-law has recommend that I instruct his conveyancing solicitors in Haverhill. Should I choose my own property lawyer?
Much as we are happy to recommend a Haverhill conveyancing lawyer the ideal way to find a conveyancing solicitor is to seek guidance from friends or relatives who have experience in using the firm that you are considering.
Completion is due on the sale of our £475,000 garden flat in Haverhill in six days. The management company has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Haverhill?
Haverhill conveyancing on leasehold flats often necessitates the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be content to do so. They are at liberty to levy a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The management information fee required by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded should you wish to complete the sale of your home.
I purchased a ground floor flat in Haverhill, conveyancing having been completed June 2003. How much will my lease extension cost? Similar flats in Haverhill with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2079
With only 54 years unexpired the likely cost is going to span between £32,300 and £37,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.