My husband and I swapping mortgage lender for our penthouse in Swavesey with Nationwide. We have a son 18 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document 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 document specific to the Nationwide conveyancing panel as he never had to sign this form when we bought 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 Nationwide 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 Nationwide. This is solely used to protect Nationwide 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 Nationwide 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 am helping my step-mother sell her house in Swavesey. Will the solicitor commission an energy assessment or it is for me to see to?
After the abolition of Home Information Packs, energy performance certificates was left as a mandatory component of moving property. An energy performance certificate needs to be commissioned prior to the property being placed on the market. This is not as aspect of the sale process that conveyancers normally organise. If you are using a Swavesey conveyancing practitioner they might be willing to arrange EPC’s given their contacts with reputable Swavesey providers
My husband and I have organised a further advance on our home loan from Principality as we wish to conduct alterations to our property in Swavesey. Are we obliged to choose a high street Swavesey solicitor on the Principality conveyancing panel to handle the legals?
Principality do not ordinarily instruct a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality conveyancing panel.
Nottingham have agreed my home loan in principle, my bid on a apartment in Swavesey has been accepted, what happens next?
The estate agent will want to know who your solicitors are (ensure that the solicitors are on the bank’s approved list). Contact Nottingham or the financial adviser and finalise any outstanding paperwork. Nottingham will sellect a valuer who will get in contact with the estate agent or seller to arrange a time for the valuation to occur. Once conducted (assuming no problems) it takes approximately a fortnight to receive the mortgage offer. Nottingham will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Swavesey.
About to purchase a new build flat in Swavesey. Conveyancing is daunting 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 conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Swavesey
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I have been on the look out for a ground for flat up to £305k and identified one near me in Swavesey I like with open areas and station nearby, the downside is that it's only got 51 years on the lease. There is not much else in Swavesey for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage that many years will be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
How do I locate a Swavesey law firm on the Leeds Building Society conveyancing panel? I am a keen cyclist and am happy to travel upto 20miles to meet the solicitor.
You can use the facility on this website. Please choose the lender and your location and you will see a number of Swavesey conveyancing lawyers based on proximity. We have detailed some Swavesey conveyancing firms at the bottom of this page and you can ring them to check if they are on the Leeds Building Society approved list
What advice can you give us when it comes to appointing a Swavesey conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Swavesey conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Swavesey conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
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Can they put you in touch with clients in Swavesey who can give a testimonial? What are the costs for lease extension work?
I acquired a garden flat in Swavesey, conveyancing was carried out February 2011. Can you work out an approximate cost of a lease extension? Similar flats in Swavesey with a long lease are worth £171,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2104
With only 79 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.