My fiance and I changing mortgage lender for our apartment in Stanley with Lloyds. We have a son approaching twenty who lives with us. 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, giving up any rights in the event that the flat is repossessed. I have two concerns (1) Is this form unique to the Lloyds conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this compromise 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.
I own a freehold house in Stanley yet pay rent, why is this and what is this?
It is rare for properties in Stanley and has limited impact for conveyancing in Stanley but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I am looking to buy a property and need a conveyancing solicitor in Stanley who is on the Skipton Building Society solicitor. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Skipton Building Society in certain locations such as Stanley. We dont recommend any particular firm.
I used Stirling Law several years past for my conveyancing in Stanley. I now require my file but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracking down 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 Stanley of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a ground for flat up to £305k and identified one near me in Stanley I like with a park and railway links in the vicinity, however it's only got 49 remaining years left on the lease. I can't really find anything else in Stanley in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan that many years will likely be a potential deal breaker. Discount the price 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 then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
I am hoping to exchange soon on a garden flat in Stanley. Conveyancing solicitors have said that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Stanley should include some of the following:
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Additions to the flat You should be sent a copy of the lease Defining your legal entitlements in respect of the communal areas in the building.For instance, does the lease permit a right of way over a path or hallways? Does the lease prevent you from renting out the flat, or having a home office for business Repair and maintenance of the flat
I bought a basement flat in Stanley, conveyancing having been completed May 1997. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Stanley with an extended lease are worth £179,000. The ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2082
With 57 years left to run we estimate the premium for your lease extension to range between £26,600 and £30,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.