My partner and I intend to remortgage our penthouse in Southwell with Barclays. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. 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 a couple of questions (1) Is this form unique to the Barclays conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Barclays 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 Barclays. This is solely used to protect Barclays 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 Barclays 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.
In what way does my ID and proof of funds have anything to do with my conveyancing in Southwell? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identity of the potential client they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms of Engagement that you need to sign should stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you refuse to supply identification documents, your solicitor will not be able to take you on as a client.
I am buying a house and need a conveyancing solicitor in Southwell who is on the Birmingham Midshires approved. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Birmingham Midshires in certain locations such as Southwell. We dont recommend any particular firm.
We previously selected conveyancing lawyers with offices in Southwell on the Co-operative solicitor approved list. They have just invoiced me a separate sum for the legal aspects of the Co-operative mortgage. Is this an additional conveyancing fee set by Co-operative?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your lawyer can charge a fee for this. This fee is not set by Co-operative but by your Southwell property lawyer. Numerous firms on the Co-operative panel will quote an ‘acting for lender’ fee and others do not.
We have agreed to purchase a house in Southwell. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Santander be concerned?
Given that you are obtaining a mortgage with Santander your lawyer must follow the conveyancing instructions contained in Part two of UK Finance Lenders’ Handbook for Santander. The CML Handbook stipulates minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Santander where a lease does not comply with these provisions. The provisions relate to the installation of panels on properties in England and Wales and is not isolated to Southwell.
After much negotiation I have agreed a price on an apartment in Southwell. My financial adviser recommended their conveyancers. I paid an on account payment of £200. Soon after, the conveyancing practitioner contacted me to say that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My husband and I are new on the property ladder - had an offer accepted, yet the agent advised that the vendor will only move forward if we appoint their recommended conveyancers as they are insisting on a ‘quick sale’. We would rather use a family conveyancer used to conveyancing in Southwell
We suspect that the seller is not behind this request. Should the vendor desire ‘a quick sale', alienating a serious purchaser is likely to cause more damage than good. Bypass the agents and go straight to the sellers and make the point that (a)you are serious purchasers (b)you are excited to move forward, with finances in place © you are chain free (d) you intend to proceed fast (e)but you will continue to appoint your preferred Southwell conveyancing solicitors - rather thanthe ones that will give the estate agent a referral fee or hit his conveyancing figures set by senior management.
Harry (my fiance) and I may need to let out our Southwell garden flat temporarily due to a new job. We used a Southwell conveyancing firm in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Your lease governs the relationship between the freeholder and you the leaseholder; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Southwell do not contain subletting altogether – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I invested in buying a garden flat in Southwell, conveyancing having been completed in 2008. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Southwell with an extended lease are worth £206,000. The ground rent is £45 levied per year. The lease runs out on 21st October 2092
With 66 years left to run the likely cost is going to span between £11,400 and £13,200 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.