My husband and I are refinancing our flat in Somerset with Kent Reliance. We have a son 18 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have two concerns (1) Is this form unique to the Kent Reliance conveyancing panel as he never had to sign this form when we purchased 3 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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.
It has been four months since my purchase conveyancing in Somerset concluded. I have checked the Land Registry site which shows that I paid £175,000 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 property 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.
I am looking for a ground for flat up to £305k and found one near me in Somerset I like with amenity areas and railway links nearby, however it only has 52 years unexpired on the lease. There is not much else in Somerset in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
In surfing the internet for the phrase on line conveyancing in Somerset it brings up numerous solicitorsin the vicinity. How do I determine which is the right solicitor for the sale of my house?
The best way of seeking the right conveyancer is through a personal testimonial, so enquire of colleagues and relatives who have acquired a property in Somerset or the respected estate agent or financial adviser. Costs for conveyancing in Somerset vary, so it's a good idea to obtain a minimum of four quotes from varying types of law firms. Dont forget to clarify what costs in the quote includes.
I only have 68 years left on my lease in Somerset. I now wish to get lease extension but my landlord is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to locate the landlord. For most situations an enquiry agent would be useful to carry out a search and prepare a report to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Somerset.
I purchased a 1 bedroom flat in Somerset, conveyancing formalities finalised in 1997. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Somerset with over 90 years remaining are worth £180,000. The ground rent is £65 invoiced every year. The lease terminates on 21st October 2084
With just 59 years left to run the likely cost is going to range between £20,900 and £24,200 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
We are thinking of appointing an online solicitor ahead of a Somerset conveyancing practice. Should I ‘stay local’?
Advantages do exist in having the option visit a local Somerset conveyancing solicitor such as
- signing documents and and when necessary
- having face-to-face explanations of matters that you need help with
- the ability to raise concerns if things go pear-shaped
When analysing estimates, look carefully for hidden extras. Most decent Somerset high street solicitors give an all-inclusive price. Many online agents seem to offer discounted prices, yet have burried 'extras' in the in the terms and conditions.