My wife and I intend to remortgage our maisonette in Hurstpierpoint 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, giving up any rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this form unique to the UBS conveyancing panel as he never had to sign this form when we remortgaged 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 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 see that you have a post code search directory identifying firms on the Nationwide conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Hurstpierpoint?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Hurstpierpoint.
When researching moneysavingexpert.com for a conveyancing lawyer in Hurstpierpoint, many advise that I must use a CQS accredited solicitor. Can you explain what CQS is?
Hurstpierpoint Conveyancing Quality Scheme practices have obtained certification under the Law Society's Scheme (CQS) CQS was created to establish evidence of quality standards in the in the legal transfer of properties. CQS enables consumers to recognise solicitor firms who provide a quality residential conveyancing. Hurstpierpoint is one of the many areas in England and Wales in which accredited firms are located. The conveyancing scheme requires law firms to undergo a strict assessment, compulsory training, self-reporting, random audits and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Council of Mortgage Lenders.
I decided to have a survey completed on a house in Hurstpierpoint in advance of appointing conveyancers. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some banks tend not give a loan on this type of premises.
It varies from the lender to lender. Santander has different requirements from Nationwide. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hurstpierpoint. Conveyancing may be slightly more expensive based on your lender's requirements.
My cousin has encouraged me to appoint his lawyers for conveyancing in Hurstpierpoint. Should I use them?
No doubt the best way to find a conveyancing practitioner is to seek referrals from friends or family who have previously instructed the conveyancer that you are considering.
Planning to exchange soon on a ground floor flat in Hurstpierpoint. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Hurstpierpoint should include some of the following:
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Details of the parties to the lease, for instance these could be the tennant, head lessor, freeholder Repair and maintenance of the flat Does the lease prevent you from letting out the property, or working from home Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? You should be advised what is to be regarded as a Nuisance as far as the lease is concerned
I am the registered owner of a leasehold flat in Hurstpierpoint, conveyancing formalities finalised in 2002. Can you work out an approximate cost of a lease extension? Comparable flats in Hurstpierpoint with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease comes to an end on 21st October 2079
With only 53 years unexpired we estimate the premium for your lease extension to span between £27,600 and £31,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.