I am in the throes of switching my current residential mortgage to a BTL Norwich and Peterborough Building Society mortgage. The bank has said that I require a conveyancer as part of the process. I had a chat the same Petworth conveyancing firm who dealt with the legals when I initially bought the house. The quote e-mailed to me of £575 plus disbursements has shocked me as I am not require purchase conveyancing - it’s simply a bog-standard refinance.
The charges appear a tad high. If you are prepared to spend time comparing prices you might decrease the fees slightly by perhaps £125. On the other hand, assuming were pleased with the assistance the firm provided you maycome to regret choosing an an unknown conveyancer. Don't forget to ensure that the solicitor can represent Norwich and Peterborough Building Society. Do make use of our search tool to find a Petworth conveyancing firm on the Norwich and Peterborough Building Society approved list of lawyers, which can often include conveyancing solicitors in Petworth.
My fiance and I are refinancing our apartment in Petworth with Skipton. We have a son 19 who lives with us. Our solicitor has asked us to disclose any adults 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 flat is repossessed. I have two questions (1) Is this document specific to the Skipton conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this giving up his rights 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.
I am the registered owner of a freehold premises in Petworth yet invoiced for rent, why is this and what is this?
It is rare for properties in Petworth and has limited impact for conveyancing in Petworth but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Due to the guidance of my in-laws I had a survey completed on a house in Petworth before appointing conveyancers. I have been told that there is a flying freehold element to the house. My surveyor advised that some lenders tend not give a loan on this type of home.
It depends who your proposed lender is. HSBC has different requirements from Halifax. Should you wish to telephone us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Petworth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Petworth to see if the conveyancing costs will increase in light of this.
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At this site secure an accurate costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Petworth. As opposed to estate agents and many comparison sites we do not operate commission arrangements with solicitors. Many agents and online brokers 'recommend' solicitors paying the most per referral, not the best value conveyancing in Petworth
I own a leasehold house in Petworth. Conveyancing and Leeds Building Society mortgage went though with no issue. 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 1991. The conveyancing solicitor in Petworth who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Petworth conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a 1st floor flat in Petworth, conveyancing having been completed February 2002. Can you work out an approximate cost of a lease extension? Similar properties in Petworth with over 90 years remaining are worth £176,000. The ground rent is £50 per annum. The lease runs out on 21st October 2075
With just 50 years remaining on your lease we estimate the price of your lease extension to span between £31,400 and £36,200 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.