My wife and I intend to remortgage our flat in Maidenbower with Lloyds. 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 repossessed. I have two questions (1) Is this document specific to the Lloyds conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Lloyds 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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.
Can your site be used to locate a Conveyancing solicitor in Maidenbower even where I’m not buying or selling a house, for instance if I wish to acquire an office in Maidenbower with a mortgage from Virgin Money?
Our search tool is primarily utilised to find domestic conveyancing solicitors in Maidenbower but we have set out at the end of this page some Maidenbower commercial conveyancing firms. You should enquire with the firm directly to check if they can also act for Virgin Money
Does a directory service exist listing Aldermore panel conveyancers in Maidenbower on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. Very few lending institutions make their panel listings available online. If you are seeking to appoint a Maidenbower conveyancer on the Aldermore please use our facility.
I had a mortgage agreed in principle with Nationwide. Maidenbower conveyancing practitioners are appointed. What is the average time that one could expect to receive a mortgage offer from Nationwide?
Some lenders take longer than others. Have Nationwide completed the survey? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Our sealed bid on a property in Maidenbower has been accepted, the sellers do however have an associated purchase. The vendors have offered on a flat, but it’s not been accepted yet, and are looking at other properties in the pipeline. I have chosen a nearby conveyancing solicitor in Maidenbower. What do I do now? At what point should I apply for the mortgage with Santander?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of one thousand pounds, then survey, Maidenbower conveyancing search fees, etc). First, you must check that your lawyer is on the Santander approved list. As to the subsequent steps this very much dictated by the circumstances of your transaction, motivation for this property and on the state of the market. In a buoyant market many buyers will apply for the mortgage with Santander and arrange for the valuation and only if it comes back ok would they pay their property lawyer to move forward with searches.
It has been 3 months following my purchase conveyancing in Maidenbower completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build house in Maidenbower with a mortgage from Chelsea Building Society. The developers would not budge the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not reveal to my solicitor about this side-deal as it will impact my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Can you offer any advice when it comes to appointing a Maidenbower conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Maidenbower conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Maidenbower conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be helpful:
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How many lease extensions has the firm carried out in Maidenbower in the last 12 months? If the firm is not ALEP accredited then what is the reason?
I bought a basement flat in Maidenbower, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Comparable properties in Maidenbower with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ends on 21st October 2100
With 75 years unexpired the likely cost is going to be between £8,600 and £9,800 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.