My husband and I are refinancing our apartment in Partington with Skipton. We have a son 19 who lives at home. Our solicitor requested us to identify anyone over the age of 17 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 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 bought 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 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.
What is the first thing I need to know regarding purchase conveyancing in Partington?
You may not hear this from too many lawyers but conveyancing in Partington or throughout England and Wales is an adversarial process. In other words, when it comes to conveyancing there is plenty of room for confrontation between you and other parties involved in the house moving process. For instance, the seller, estate agent and even potentially your bank. Selecting a lawyer for your conveyancing in Partington should not be taken lightly as your conveyancer is your adviser, and is the ONE person in the transaction whose interest is to protect your legal interests and to keep you safe.
Every so often a potential adversary may attempt to persuade you that you should follow their advice. For instance, the estate agent may claim to be helping by suggesting your conveyancer is slow. Or your financial adviser may try to convince you to do something that is against your conveyancers guidance. You should always trust your lawyer above all other parties in the home moving process.
My grandmother passed away last year and as sole heir and executor I was left the property in Partington. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this possible?
Where you plan to refinance then Yorkshire BS will insist on your using a conveyancer on the Yorkshire BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Yorkshire BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Yorkshire BS mortgage is registered as a charge at the Land Registry.
Me and my partner are purchasing a flat in Partington. I might seem paranoid but how we can trust a conveyancer? On completion day we will need to deposit our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
When it comes to lenders such as Clydesdale, do Partington solicitors have to pay a yearly amount to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I can not fathom if my bank requires a lease extension. I have telephoned my Partington bank branch on a couple of occasions and was told they are content with the situation and they will lend. My Partington conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they would not lend in accordance with their published requirements. I have no idea who is right.
The solicitor has to comply with the Council of Mortgage Lenders’ Handbook section two specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
About to purchase a new build apartment in Partington. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Partington
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I own a leasehold flat in Partington. Conveyancing and Yorkshire Building Society mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Partington who previously acted has long since retired. Any advice?
First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Partington conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a 1 bedroom flat in Partington, conveyancing having been completed in 2007. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Partington with an extended lease are worth £216,000. The ground rent is £50 invoiced every year. The lease terminates on 21st October 2094
With 69 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.