My fiance and I intend to remortgage our penthouse in Ollerton with Skipton. 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. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Skipton conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
First, rest assured that your Skipton 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 Skipton. This is solely used to protect Skipton 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 Skipton 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.
My Conveyancer in Ollerton has never been on on the Skipton Building Society Solicitor Panel. Is it possible for me to use my family solicitor notwithstanding that they are excluded from the Skipton Building Society list of approved lawyers?
The limited options open to you here include:
- Complete the purchase with your preferred Ollerton solicitors but Skipton Building Society will need to instruct a solicitor on their list of acceptable firms. This will result in additional total legal fees and result in delays.
- Get an alternative solicitor to act in the purchase, obviously checking they are Persuade your conveyancer to do everything within their powers to join the Skipton Building Society conveyancing panel
Are all Ollerton Conveyancing Quality Solicitors on the Bank of Ireland conveyancing list of approved practices?
It is true that some lenders now make use of CQS as the kick off point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
My husband and I are spending time viewing apartments in Ollerton and I am now considering a potential offer. Should I already have a conveyancing practitioner in place at this point? I am planning to take a mortgage with Santander.
It would be wise to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are obtaining a mortgage with Santander, ask your prospective lawyers if they are on the Santander conveyancing panel otherwise they can't do the mortgage legal work.
I have today made my last payment due on my mortgage with Santander. I assume I don't need a Ollerton lawyer on the Santander panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Santander mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Santander mortgage from the register. Santander, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Santander has sent the Land Registry the discharge electronically, and
- Santander has instructed the Land Registry to do so
I am selling our property in Ollerton and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A high street Ollerton lawyer would know that there is no such problem. For the life of me I don't know why the purchasers used an online conveyancing practice rather than a conveyancing solicitor in Ollerton. We have lived in Ollerton for three years we know of no issue. Do we contact our local Authority to obtain clarification that the buyers are looking for.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
My husband and I are FTB’s - had an offer accepted, but the selling agent has warned us that the owners will only issue a contract if we instruct their chosen lawyers as they want a ‘quick sale’. We would rather use a family solicitor used to conveyancing in Ollerton
We suspect that the seller is not behind this demand. Should the owner require ‘a quick sale', alienating a serious buyer is not the way to achieve this. Contact the vendors directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)but you are going to use your preferred Ollerton conveyancing firm - as opposed tothe ones that will earn the negotiator at the agency a introducer fee or achieve conveyancing thresholds set by head office.
Can you provide any top tips for leasehold conveyancing in Ollerton from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Ollerton can be bypassed where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors. If you hold a share in a the Management Company, you should ensure that you hold the original share certificate. Arranging a replacement share certificate can be a lengthy process and frustrates many a Ollerton home move. If a reissued share certificate is necessary, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible. The majority of freeholders or Management Companies in Ollerton levy fees for supplying management packs for a leasehold home. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Ollerton. If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled. In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Ollerton leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such works. If you fail to have the consents to hand do not contact the landlord without checking with your solicitor first.
I invested in buying a basement flat in Ollerton, conveyancing formalities finalised June 2007. Can you work out an approximate cost of a lease extension? Equivalent properties in Ollerton with a long lease are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2102
With 76 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.