My wife and I are refinancing our apartment in Prestwich with Yorkshire BS. We have a son 18 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Yorkshire BS conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right 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.
Can your site be used to recommend a Conveyancing solicitor in Prestwich even if I’m not purchasing or disposing of a house, for instance if I intend to buy an office in Prestwich with a loan from Chelsea Building Society?
The service is mainly used to get a quote from domestic conveyancing solicitors in Prestwich but we have recorded at the end of this page a few Prestwich commercial conveyancing firms. You should make contact with the company directly to see if they can also act for Chelsea Building Society
My partner and I have arranged the release of further monies on our home loan from Coventry BS as we intend to conduct improvements to our house in Prestwich. Are we obliged to choose a high street Prestwich solicitor on the Coventry BS conveyancing panel to handle the paperwork?
Coventry BS would not normally require firms on their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS list.
I'm in the process of viewing flats in Prestwich and I am about to put in an offer. Is it best to have a property lawyer on ‘stand by’? I will be getting a mortgage with Barclays.
It would be wise to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. Given that you are getting a mortgage with Barclays, make sure you remember to check that your lawyer is on the Barclays conveyancing panel.
I have a mortgage with Nationwide for my property in Prestwich. Conveyancing was finalised some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide?
Nationwide must be informed of your intention before renting your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide directly. You need not do this via a Nationwide conveyancing panel solicitor.
I used Action Conveyancing several years past for my conveyancing in Prestwich. Now, I need my files but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Prestwich of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
We're FTB’s - agreed a price, but the selling agent informed us that the vendor will only issue a contract if we instruct their recommended lawyers as they want a ‘quick sale’. Our preferred option is to instruct a high street conveyancer who is accustomed to conveyancing in Prestwich
It is unlikely the vendors are behind this. If they desire ‘a quick sale', alienating a genuine buyer is not the way to achieve this. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are ready to go, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)however you are going to instruct your own,trusted Prestwich conveyancing solicitors - rather thanthose that will provide the estate agent a commission or meet his conveyancing thresholds demanded by head office.
I only have 68 years remaining on my lease in Prestwich. I need to get lease extension but my freeholder is missing. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the lessor. In some cases an enquiry agent should be useful to try and locate and to produce an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Prestwich.
I am the registered owner of a ground floor flat in Prestwich, conveyancing having been completed November 1998. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Prestwich with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2102
With just 76 years unexpired 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 renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. 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 based on this information without first seeking the advice of a professional.