My wife and I swapping mortgage lender for our maisonette in Welton with Co-operative. We have a son approaching twenty 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 document specific to the Co-operative conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this compromise his rights to inherit the property?
First, rest assured that your Co-operative 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 Co-operative. This is solely used to protect Co-operative 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 Co-operative 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 is 10 years ago since I bought my house in Welton. Conveyancing lawyers have now been appointed on the sale but I can't track down my title deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly the deeds may be kept by the mortgage company or they may be in the possession of the solicitor who oversaw the purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring current official copies of the land registers. The vast majority of conveyancing in Welton involves registered property but in the rare situation where your property is not registered it is more problematic but is not insurmountable.
My wife and I are close to exchanging contracts on the sale of our house in Welton and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. Any high street Welton lawyer would know that there is no such problem. For the life of me I don't know why the purchasers are using a factory type conveyancing firm as opposed to a conveyancing solicitor in Welton. Having lived in Welton for six years we know that this is a non issue. Do we get in touch with our local Authority to get confirmation need.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Due to the input of my in-laws I had a survey completed on a house in Welton in advance of appointing conveyancers. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some lenders may refuse to issue a loan on this type of home.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Welton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Welton to see if the conveyancing will be more expensive.
What are your top tips when it comes to choosing a Welton conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Welton conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Welton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
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If they are not ALEP accredited then why not? What volume of lease extensions has the firm carried out in Welton in the last year?
I am the registered owner of a basement flat in Welton, conveyancing formalities finalised July 1997. Can you work out an approximate cost of a lease extension? Corresponding properties in Welton with over 90 years remaining are worth £196,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease expires on 21st October 2089
With 64 years unexpired the likely cost is going to span between £15,200 and £17,600 plus legals.
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 detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the mortgage company conveyancing panel. My lawyer has said that they are on the bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the bank solicitor panel.