My husband and I are refinancing our penthouse in Silsoe with Leeds Building Society. We have a son 19 who lives with us. Our solicitor has asked us to disclose 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 flat is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Leeds Building Society conveyancing panel as he never had to sign this form when we remortgaged 5 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 Leeds Building Society 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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.
Will my solicitor be asking questions about flooding as part of the conveyancing in Silsoe.
The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Silsoe. Some people will purchase a property in Silsoe, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, however there are a various searches that may be undertaken by the purchaser or by their solicitors which should give them a better understanding of the risks in Silsoe. The standard completed inquiry forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual question of the seller to find out whether the premises has ever been flooded. If the premises has been flooded in past which is not notified by the vendor, then a purchaser could bring a legal claim for losses resulting from an incorrect response. The purchaser’s conveyancers may also order an environmental report. This should higlight if there is any known flood risk. If so, further inquiries should be made.
It has been five months following my purchase conveyancing in Silsoe completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How can the Landlord & Tenant Act 1954 impact my business offices in Silsoe and how can your lawyers assist?
The particular law that you refer to gives protection to business tenants, granting the legal entitlement to make a request to court for a new tenancy and remain in occupation when the lease reaches an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Silsoe is one of the hundreds of areas of the UK in which our lawyers are located
We are 14 days into a leasehold purchase having been recommend to conveyancers by the estate agent to do our conveyancing in Silsoe. I am not happy. Could you help me find new conveyancers?
A solicitor would need to be very poor to suggest replacing them. Has your mortgage been generated? In the event that it has you need to inform them of the new lawyer and ensure the offer are re-sent. Your solicitor ideally needs to be on the banks panel to avoid supplemental costs and complications. That should be your starting point. The search tool will help you find a lender approved lawyer for your conveyancing in Silsoe
Is there an average conveyancing fee for conveyancing in Silsoe?
The average cost in 2014 for conveyancing in Silsoe was £1,395 not including Land Tax and HMLR charges.