My fiance and I swapping mortgage lender for our apartment in Oxfordshire with Yorkshire BS. We have a son 18 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this document specific to the Yorkshire BS conveyancing panel as he never had to sign this form when we bought 4 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
First, rest assured that your Yorkshire BS 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 Yorkshire BS. This is solely used to protect Yorkshire BS 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 Yorkshire BS 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.
I just bought a house at auction in Oxfordshire. Conveyancing is needed. What happens now?
Now that you have legally bound yourself to purchase you should appoint a conveyancing practitioner quickly as you are faced with a pending a drop dead date to complete the property. An auction property will ordinarily have a corresponding auction set of papers. This should include the copy title deeds, local authority and drainage searches. In the case of leasehold property the auction papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You should hand this to the conveyancer instructed by you at the earliest opportunity. You also need to ensure that your finances are in place to complete the transaction on the set completion date.
We expect to receive a AIP from Barclays this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Barclays recommend any Oxfordshire solicitors on the Barclays conveyancing panel, or is it better to go independently?
You will need to appoint Oxfordshire solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.
I am due to exchange contracts on my apartment. I had a double glazing fitted in March 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Aldermore are being problematic. The Oxfordshire solicitor who is on the Aldermore conveyancing panel is recommending indemnity insurance as a solution but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Oxfordshire differ for new build properties?
Most buyers of new build residence in Oxfordshire contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is built. This is because new home sellers in Oxfordshire usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Oxfordshire or who has acted in the same development.
My cousin has recommend that I appoint his conveyancers in Oxfordshire. Should I find my own conveyancer?
There are no two ways about it it’s preferable to find a conveyancing lawyer is to get recommendations from friends or relatives who have experience in using the solicitor you're considering.
I own a leasehold flat in Oxfordshire. Conveyancing and Virgin Money mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Oxfordshire who acted for me is not around. Any advice?
First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Oxfordshire conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a basement flat in Oxfordshire, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Oxfordshire with an extended lease are worth £181,000. The average or mid-range amount of ground rent is £55 per annum. The lease ends on 21st October 2076
You have 51 years unexpired the likely cost is going to range between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing 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 additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
I happen to be an executor of my recently deceased mum’s Will, with a bungalow in Oxfordshire which is to be marketed. The property is unregistered at HMLR and I'm told that some buyers solicitors will insist that it is completed before they will move forward. What's the procedure for this?
In the situation that you have set out it seems advisable to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.