My fiance and I intend to remortgage our penthouse in Loddon with Co-operative. We have a son 19 who lives at home. 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 flat is repossessed. I have a couple of concerns (1) Is this document specific to the Co-operative conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) In signing this form is our son in any way compromising his right 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 Co-operative. This is solely used to protect Co-operative 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 Co-operative 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 Loddon last February but the buyer keeps e-mailing me to moan that their conveyancer is waiting to hear from myconveyancer. What should have happened now that I have sold?
Following your house sale your solicitor should deliver the transfer documentation and all additional paperwork to the buyer’s solicitors. If applicable, your lawyer must also confirm that the legal charge in favour of the lender has been paid off to the buyers lawyers. There is unlikely to be post completion formalities peculiar conveyancing in Loddon.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Loddon is the location of the property. Is there any guidance you can give?
Flying freeholds in Loddon are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Loddon you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Loddon may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am looking into buying my first house which is in Loddon and I am already nervous. I couldn't find anything specific about Loddon. Conveyancing will be needed in due course but do you know about the Loddon area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Loddon. In the meantime here are some basic statistics that we found
I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Loddon. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Loddon ?
The majority of houses in Loddon are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Loddon so you should seriously consider looking for a Loddon conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will appraise you on the various issues.
I inherited a 1st floor flat in Loddon, conveyancing formalities finalised September 1998. Can you work out an approximate cost of a lease extension? Equivalent properties in Loddon with an extended lease are worth £186,000. The ground rent is £55 yearly. The lease comes to an end on 21st October 2079
You have 53 years unexpired the likely cost is going to span between £27,600 and £31,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
I am purchasing a flat and need a conveyancing solicitor in Loddon who is on the mortgage company conveyancing panel. Could you point me in the right direction as regards a Loddon solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the lender who conduct conveyancing in Loddon. We dont recommend any particular firm.