My wife and I are refinancing our flat in Openshaw with HSBC. 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. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have two questions (1) Is this document specific to the HSBC conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this extinguish his entitlement 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 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.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Openshaw?
Two types of professional can carry out conveyancing in Openshaw namely licenced conveyancers or solicitors. Both professionals handle conveyancing services that required to complete the disposal or purchase of property. They are both duty bound to conduct Openshaw conveyancing on similar quality and guidelines so you can be safe in the knowledge that your conveyancing will be properly carried out and that all requisite procedures should be accurately taken.
My stepmother informed me that in buying a property in Openshaw there could be a number of restrictions affecting the ability to carry out external changes to a property. Is this right?
We are aware of anumerous of properties in Openshaw which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Openshaw should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have paid off my mortgage with HSBC. I assume I don't need a Openshaw solicitor on the HSBC panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your HSBC 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 HSBC mortgage from the register. HSBC, 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 HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
We are buying a house and the lawyer has raised the issue of Chancel Repair for which the house may be liable given it’s proximity to the area of such a church. She has mentioned insurance. Is this strictly warranted for conveyancing in Openshaw
Unless a prior acquisition of the house completed post 12 October 2013 you can expect solicitors carrying out conveyancing in Openshaw to remain encouraging a chancel search and or chancel repair liability insurance.
I am buying my first flat in Openshaw with the aid of help to buy. The developers would not move on the price so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not reveal to my lawyer about the deal as it will affect my mortgage with Godiva Mortgages Ltd. Should I keep quiet?.
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.
How does the Landlord & Tenant Act 1954 affect my commercial offices in Openshaw and how can your lawyers assist?
The 1954 Act gives protection to business leaseholders, granting the right to apply to court for a new lease and continue in occupation when the lease comes to an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and assist with commercial conveyancing in Openshaw
I've found a house that appears to be perfect, at a great figure which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Openshaw. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Openshaw ?
Most houses in Openshaw are freehold rather than leasehold. In this scenario it’s worth 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 Openshaw in which case you should be shopping around for a Openshaw conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.
I inherited a 2 bed flat in Openshaw, conveyancing having been completed 6 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Openshaw with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £55 levied per year. The lease comes to an end on 21st October 2080
With just 56 years left to run the likely cost is going to be between £29,500 and £34,000 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.