My wife and I intend to remortgage our maisonette in Kendal with TSB. We have a son 19 who lives with us. Our solicitor requested us to identify 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 apartment is repossessed. I have a couple of questions (1) Is this document specific to the TSB conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your TSB 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 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.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel lawyer as I would much rather use a Kendal based conveyancing firm?
You should check but the the probability is that give you one of their panel solicitors should you take up the "fee-free" incentive. Contact the mortgage company to determine if they allow a cash alternative. In the past a few lenders offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Kendal.
My stepmother informed me that in buying a property in Kendal there may be a number of restrictions preventing external changes to a property. Is this right?
There are a number of properties in Kendal which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Kendal should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Can I be sure that the Kendal conveyancing solicitor on the Aldermore panel is any good?
When it comes to conveyancing in Kendal seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor handling your transaction.
I am currently in the process of buying my council flat in Kendal. I have a mortgage offer with Nationwide. 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 use 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 Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
My colleague advised me that where I am buying in Kendal I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Kendal conveyancing searches. It is a large document of more than thirty pages, listing and setting out significant information about Kendal around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Kendal Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information concerning Kendal.
I purchased my home on 10 November and my personal details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in Kendal said it would be registered inside ten days. Are properties in Kendal uniquely lengthy to register?
There is nothing unique about conveyancing in Kendal registration formalities. As opposed to being determined by geographic area, timeframes can adjust subject to the party submitting the application, whether there are errors and whether the Land registry must send notices to any third persons or bodies. As of today in the region of 80% of submission are fully dealt with within 12 days but some can be subject to longer delays. Registration is effected once the purchaser has moved in to the premises so post completion formalities is not typically primary concern but if there is a degree of urgency associated with the registration then you or your lawyers should speak with the land registry and explain the circumstances.
I work for a long established estate agent office in Kendal where we see a few flat sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Kendal conveyancing solicitors. Could you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.
I acquired a studio flat in Kendal, conveyancing having been completed 7 years ago. 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? Similar flats in Kendal with an extended lease are worth £165,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ceases on 21st October 2103
With just 77 years remaining on your lease the likely cost is going to range between £7,600 and £8,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.