My husband and I are refinancing our flat in High Wycombe with Aldermore. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal 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 Aldermore conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Aldermore 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 Aldermore. This is solely used to protect Aldermore 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 Aldermore 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.
Finally the sale completed on my house in High Wycombe last April but our buyer keeps texting me complaining that her conveyancer needs to hear from mylawyer. What are the post completion sale legalities following completion?
Following your house sale your conveyancer is obliged to send the transfer documentation and all of the paperwork to the buyer’s lawyers. If applicable, your solicitor should also send confirmation that the mortgage has been repaid to the buyers solicitors. There is unlikely to be post completion requirements unique to conveyancing in High Wycombe.
I got the keys to my flat on 14 November and my personal details is not yet on the land registry website. Should I be concerned? My conveyancing solicitor in High Wycombe advises it would be recorded in a couple of weeks. Are titles in High Wycombe particularly slow to register?
There is nothing unique when it comes to conveyancing in High Wycombe registration formalities. As opposed to being determined by geographic area, timeframes can differ depending on who lodges the application, whether it is in order and whether the Land registry need to notify any third persons or bodies. As of today roughly 80% of submission are fully dealt with in less than three weeks but some can be subject to protracted hold-ups. Registration occurs once the purchaser is living at the property so an expedited registration is not usually an essential issue yet where it is urgent that the the registration takes place urgently then you or your solicitor could communicate with the Registry to express the reasoning for an expedited registration.
I decided to have a survey carried out on a house in High Wycombe in advance of instructing lawyers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some banks tend refuse to give a mortgage on this type of property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you e-mail us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in High Wycombe. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in High Wycombe to see if the conveyancing will be more expensive.
Given that I am about to part with £400,000 on a two bedroom apartment in High Wycombe I wish to have a conversation with the solicitor about mytransaction in advance of giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - we would be happy to talk to you we do not take any clients on without you liaising with the lawyer who will be carrying out your property ownership legalities in High Wycombe.There is no ‘factory style conveyancing’ - every client is an important individual, not a file reference. The solicitors that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in High Wycombe should be the amount on the final invoice that you end up paying.
What advice can you give us when it comes to choosing a High Wycombe conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a High Wycombe conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non High Wycombe conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be useful:
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What volume of lease extensions have they completed in High Wycombe in the last 12 months? If they are not ALEP accredited then what is the reason?
I own a split level flat in High Wycombe, conveyancing formalities finalised in 2011. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in High Wycombe with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2081
You have 55 years left to run we estimate the price of your lease extension to range between £31,400 and £36,200 as well as costs.
The figure 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 without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns 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 without first seeking the advice of a professional.