My partner’s step-father is a property lawyer. I expect that I will be offered preferential pricing for conveyancing, However if that does not come materialise, what kind of figure should I be paying for conveyancing in Welwyn Garden City?
Do contrast pricing. Do use our search tool on this site. You will notice that prices may contrast greatly but service levels do differ between conveyancers as is true with most professions.
My wife and I swapping mortgage lender for our apartment in Welwyn Garden City with Santander. We have a son approaching twenty who lives at home. Our solicitor requested us to identify anyone over the age of 17 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 forfeited by the lender. I have two concerns (1) Is this document specific to the Santander conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your Santander 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 Santander. This is solely used to protect Santander 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 Santander 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 buying a terraced house in Welwyn Garden City. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Welwyn Garden City you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Welwyn Garden City.
As co-executor for the estate of my grandmother I am selling a house in Cardiff but reside in Welwyn Garden City. My lawyer (approximately 300 miles awayhas requested that I execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing solicitor in Welwyn Garden City who can witness and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are Welwyn Garden City based
I am looking at a two flats in Welwyn Garden City both have in the region of 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Welwyn Garden City. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the value of the lease decreases and results in it becoming more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field.
I invested in buying a basement flat in Welwyn Garden City, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Welwyn Garden City with over 90 years remaining are worth £201,000. The ground rent is £45 invoiced annually. The lease ceases on 21st October 2090
With only 65 years unexpired we estimate the price of your lease extension to span between £13,300 and £15,400 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
My nephew is about to join the property ladder, the home loan was agreed last week in principle. After the offer was accepted on apartment we telephoned the lender to go forward with his. We were shocked to hear that banks do not accept all lawyer, they must be on their panel, is this right?
Lenders ordinarily restrict either the type or the number of conveyancing firms on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Welwyn Garden City lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.