My fiance and I intend to remortgage our apartment in Ravenglass with Lloyds. We have a son approaching twenty who lives at home. 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 apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Lloyds conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Lloyds 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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.
About to purchase a new build flat in Ravenglass. 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 legal work.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Ravenglass
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are architect prepared. There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
My business partner and I are planning to take over a lease of a shop on a shopping parade. Can you recommend conveyancers offering fixed costs for non-domestic conveyancing in Ravenglass for below 2k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Ravenglass, including the disposal and acquisition of businesses as well as simply property. If you are looking to buy or sell a shop, pub, restaurant, office, retail premises or a whole business we can find you the right firm. Regarding the charges these will vary based on the structure and terms of the proposed transaction. Let us have your contact information or phone us so that we can furnish you with a fixed commercial conveyancing calculation.
We're new on the property ladder - had an offer accepted, yet the agent informed us that the seller will only issue a contract if we use their chosen solicitors as they want an ‘expedited deal’. My instinct tells me that we should use a family conveyancer accustomed to conveyancing in Ravenglass
It is unlikely the owners are driving this. If they want ‘a quick sale', taking such a hostile approach to a genuine purchaser is likely to cause more damage than good. Avoid the agents and go straight to the owners and make the point that (a)you are serious purchasers (b)you are ready to go, with finances in place © you are unencumbered (d) you intend to proceed fast (e)however you are going to appoint your own,trusted Ravenglass conveyancing firm - not the ones that will earn their negotiator at the agency a kickback or hit his conveyancing targets set by head office.
I've recently bought a leasehold house in Ravenglass. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a split level flat in Ravenglass, conveyancing was carried out November 2007. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Ravenglass with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 per annum. The lease ends on 21st October 2085
With just 60 years unexpired we estimate the price of your lease extension to be between £20,000 and £23,000 as well as legals.
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. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
Are Ravenglass conveyancing solicitors under an obligation to the Law Society to publish clear conveyancing figures?
Inbuilt into the Solicitors Code of Conduct are prescriptive rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be regarded as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, constitute the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Ravenglass or further afield.