After what seems like an age a loan offer from HSBC for the refinancing of my 3 room apartment is coming within the next few days. Can you put forward a cheap conveyancing solicitor in Upminster Bridge?
You are on the wrong site if you are in need of the cheapest conveyancing solicitors in Upminster Bridge. We can offer you cost effective conveyancing but we do not advertise as being the cheapest. Do not be seduced by companies enticing you with £100 conveyancing in Upminster Bridge. In your best case scenario, in being led by low cost conveyancing, you will get your money’s worth and at worst you will end up spending a lot in extras and still not receive the service expected.
My fiance and I changing mortgage lender for our apartment in Upminster Bridge with Virgin Money. We have a son 18 who lives at home. Our solicitor requested us to identify any adults 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 apartment is forfeited by the lender. I have two concerns (1) Is this document specific to the Virgin Money 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?
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 Virgin Money. This is solely used to protect Virgin Money 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 Virgin Money 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 have been on the look out for a ground for flat up to £245,000 and found one close by in Upminster Bridge I like with open areas and station nearby, however it's only got 51 remaining years left on the lease. I can't really find anything else in Upminster Bridge for this price, so just wondered if I would be making a grave error buying a short lease?
Should you need a home loan the remaining unexpired lease term will be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you may 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 about this.
My company is looking to lease a unit on the high street. Can you recommend conveyancers offering competitive charges for non-domestic conveyancing in Upminster Bridge for less than £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Upminster Bridge, including the disposal and acquisition of businesses as well as simply premises. Whether you are looking to purchase or sell a shop, pub, restaurant, office, retail premises or a whole business we will put you in touch with the right lawyer. As for the fees these will vary based on the structure and nuances of the deal. Please provide us with your contact information or phone so as to enable us to supply you with comprehensive commercial conveyancing calculation.
I want to sublet my leasehold apartment in Upminster Bridge. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Some leases for properties in Upminster Bridge do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Upminster Bridge conveyancing firm to assist?
if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to calculate the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Upminster Bridge premises is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The unexpired lease term was 57.5 years.
We own a leasehold flat in Upminster Bridge. Conveyancing was finalised in five years ago. I have read on a number of consumer forums that I mustn’t let the the remaining lease term to get too short. Why is that a problem?
Upminster Bridge leasehold properties are for a prescribed period - usually ninety nine years when they started. However many flats in Upminster Bridge were built or converted 35 or more years ago and so these leases now have less than eighty years remaining. This may seem like plenty of time but Banks, Building Societies and other mortgage institutions on the whole require leases to have at least seventy five years remaining to be mortgageable. This means that when you come to sell the property you will need to extend the term of your lease if you are nearing 75 years. To maximise the marketability of your property you should be thinking about whether to extend your lease long before you come to sell it. There are also strong financial reasons to doing so before the lease hits eighty years as when the lease is less than eighty years the amount to be paid to extend starts to escalate.