My fiance and I intend to remortgage our penthouse in Mansfield Woodhouse with HSBC. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults 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 property is forfeited by the lender. I have two concerns (1) Is this form unique to the HSBC conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this extinguish his rights 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 a dozen years since I purchased my home in Mansfield Woodhouse. Conveyancing solicitors have now been appointed on the sale but I am unable to locate my title deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly the deeds may be retained by the lender or they may be in the possession of the conveyancers who acted in the purchase. Secondly in all probability the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. The vast majority of conveyancing in Mansfield Woodhouse relates to registered property but in the rare situation where your home is unregistered it adds to the complexity but is not insurmountable.
My wife and I purchasing a detached bungalow in Mansfield Woodhouse. Our aim is to an extension at the rear at the property.Will the conveyancing process include investigations to ascertain if these alterations are allowed?
Your conveyancer should check the deeds as conveyancing in Mansfield Woodhouse can sometimes reveal restrictions in the title deeds which restrict certain alterations or necessitated the consent of a 3rd party. Many extensions need local authority planning permissions and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
Are all Mansfield Woodhouse Conveyancing Quality Solicitors on the Coventry BS conveyancing panel?
It is true that some banks and building societies now make use of CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of firms.
We previously chose conveyancers located in Mansfield Woodhouse on the UBS solicitor approved list. They are now charging me a supplemental sum for handling the UBS mortgage. Is this a supplemental conveyancing fee specified by UBS?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your solicitor can charge a fee for this. This fee is not set by UBS but by your Mansfield Woodhouse conveyancing practitioner. Numerous firms on the UBS panel will quote ’dealing with mortgage’ fee and others do not.
I am buying a new build house in Mansfield Woodhouse benefiting from help to buy. The sellers would not budge the price so I negotiated £7000 of extras instead. The sale representative suggested that I not disclose to my solicitor about this side-deal as it could impact my loan with Britannia. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Estate agents have just been given the go-ahead to market my ground floor flat in Mansfield Woodhouse. Conveyancing solicitors are to be appointed soon, however I have just had a yearly service charge demand – should I leave it to the buyer to sort out?
It best that you pay the invoice as you normally would because all rents and maintenance charges will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I inherited a 2 bed flat in Mansfield Woodhouse, conveyancing was carried out March 2011. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Mansfield Woodhouse with a long lease are worth £227,000. The ground rent is £50 invoiced annually. The lease runs out on 21st October 2097
With just 72 years left to run the likely cost is going to span between £9,500 and £11,000 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
What is the distinction between surveying and conveyancing in Mansfield Woodhouse?
Conveyancing - in Mansfield Woodhouse or elsewhere - is the legal term given to transferring legal title of property from one person to another. It involves the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re purchasing and will help you find out about the condition of the building and, if there are problems, give you a powerful reason for reducing the price down or asking the seller to fix the problems prior to you move in.