My husband and I swapping mortgage lender for our penthouse in Wolston with Leeds Building Society. We have a son 18 who lives at home. Our solicitor has asked us to disclose 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 questions (1) Is this form unique to the Leeds Building Society conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your Leeds Building Society 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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.
At what point can the exchange of contracts happen for domestic conveyancing in Wolston and am I required to be at the lawyers branch?
Where you are in close proximity to one of the conveyancing solicitors in Wolston you are welcome to attend to sign contracts. However, the law practices we work with offer a countrywide conveyancing service and provide as equally comprehensive and professional a job for you when dealing with you digitally. The executing of the contract is not when everything is set in stone. A signed contract is necessary for the firm to officially exchange when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Wolston)to be in the office available at the end of the phone to exchange contracts.
I am selling our house in Wolston and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any high street Wolston lawyer would know this is not the case. It does beg the question why the purchasers are using a factory type conveyancing firm as opposed to a conveyancing solicitor in Wolston. We have lived in Wolston for 5 years we know of no issue. Is it a good idea to contact our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing firm 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 life insurance to cover that same illness)
I am looking for a ground for flat up to £235,500 and found one near me in Wolston I like with a park and station in the vicinity, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Wolston in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan that many years will likely be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
I need to appoint a conveyancing solicitor for sale conveyancing in Wolston. I have stumble upon a web site which looks to be the perfect solution If it is possible to get all the legals done via phone that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
There are only Sixty One years unexpired on my lease in Wolston. I now want to get lease extension but my landlord is absent. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to prove that you have made all reasonable attempts to find the lessor. On the whole a specialist should be useful to conduct investigations and to produce an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Wolston.
I purchased a split level flat in Wolston, conveyancing having been completed February 2006. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Wolston with an extended lease are worth £185,000. The ground rent is £65 yearly. The lease comes to an end on 21st October 2085
You have 60 years remaining on your lease we estimate the price of your lease extension to range between £20,000 and £23,000 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.