We were about to retain a conveyancing solicitor in Hornsea listed on your site but stumbled across alternative costs illustrations on the internet seem less pricey – how come?
There are numerous conveyancers advertising theoretically looks to be cut price. We would urge you to give due consideration as to how important this transaction is to you that you are willing to be penny wise pound foolish over the quality of the legal work. Many of them list a bargain fee as a headline but bury additional charges in the small print..
My husband and I intend to remortgage our apartment in Hornsea with HSBC. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults 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 flat is forfeited by the lender. I have a couple of questions (1) Is this form unique to the HSBC conveyancing panel as he did not need to sign this form when we purchased 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 HSBC 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 HSBC. This is solely used to protect HSBC 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 HSBC 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.
It is is a decade since I purchased my home in Hornsea. Conveyancing solicitors have now been instructed on the sale but I can't track down my title documents. Is this a major issue?
You need not be too concerned. First there is a possibility that the deeds will be kept by your lender or they may be in the possession of the lawyers who handled your purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring up to date copy of the land registers. Almost all conveyancing in Hornsea relates to registered property but in the rare situation where your home is unregistered it adds to the complexity but is resolvable.
Me and my partner are buying a flat in Hornsea. It might be a silly question but how we can trust a solicitor? At some point we have to send money into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Are all Hornsea Conveyancing Quality Solicitors on the Principality conveyancing list of approved solicitors?
Some major lenders now use CQS as the kick off point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
When it comes to mortgage companies such as Bank of Ireland, do Hornsea conveyancers face an annual charge to be on the list of approved solicitors?
We are unaware of any mortgage company fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
The estate agent has sent us the confirmation of our purchase of a new build flat in Hornsea. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Hornsea
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants.
Due to exchange soon on a basement flat in Hornsea. Conveyancing solicitors inform me that they report fully tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Hornsea should include some of the following:
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Repair and maintenance of the property Are pets allowed in the flat? Additions to the premises Whether your lease caters for for a sinking fund? Specifying your legal entitlements in respect of the communal areas in the building.By way of example, does the lease provide for a right of way over a path or staircase?
I invested in buying a garden flat in Hornsea, conveyancing having been completed in 2007. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Hornsea with an extended lease are worth £206,000. The average or mid-range amount of ground rent is £45 per annum. The lease terminates on 21st October 2092
You have 67 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. 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. Neither should you take any other action placing reliance on this information without first getting professional advice.