My wife and I are refinancing our maisonette in Wolvey with Barclays. 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. 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 a couple of questions (1) Is this document specific to the Barclays conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Barclays 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 Barclays. This is solely used to protect Barclays 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 Barclays 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.
We had chosen conveyancing lawyers based in Wolvey on the Kent Reliance solicitor panel. They are now charging me a separate amount for the legal aspects of the Kent Reliance mortgage. Is this a supplemental conveyancing fee specified by Kent Reliance?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your property lawyer can levy a fee for this. The charge is not dictated by Kent Reliance but by your Wolvey conveyancer. Plenty of firms on the Kent Reliance panel will levy an ‘acting for lender’ fee and others do not.
Last month we had a mortgage agreed in principle with Leeds Building Society. Wolvey conveyancing lawyers were instructed. What is the average time that one could expect to receive a mortgage offer from Leeds Building Society?
There is no definitive answer here. Have Leeds Building Society conducted the survey? Have you advised Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Wolvey solicitor - who is on the Kent Reliance conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Wolvey postcode. As you are getting a mortgage with Kent Reliance, you could contact them to see if they have a list of approved surveyors in Wolvey.
Will commercial conveyancing searches reveal impending roadworks that could impact a commercial estate in Wolvey?
Its becoming the norm that commercial conveyancing solicitors in Wolvey will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Wolvey. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Wolvey.
For each commercial conveyancing transaction in Wolvey it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could result in delays to Wolvey commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not ordered for residential conveyancing in Wolvey.
I decided to have a survey completed on a house in Wolvey ahead of retaining conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some banks may refuse to grant a loan on a flying freehold home.
It depends who your proposed lender is. Santander has different requirements from Nationwide. If you e-mail us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wolvey. Conveyancing may be slightly more expensive based on your lender's requirements.
What tools are available to locate a Wolvey solicitor on the Barclays conveyancing panel? I drive a motor bike and am willing to travel upto 20miles to meet the conveyancer.
You can use the search on this website. Please select a lender and your location and you will see a number of Wolvey conveyancing lawyers located nearest you. We have listed some Wolvey conveyancing firms towards the end of this page and you can telephone them to see whether they are on the Barclays panel
If all goes to plan we aim to complete the disposal of our £150,000 garden flat in Wolvey in 10 days. The freeholder has quoted £300 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Wolvey?
Wolvey conveyancing on leasehold flats more often than not involves the purchaser’s solicitor sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to do so. They are at liberty to levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge invoiced by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, without which the invoice is technically not due. Reality however dictates that you have no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I acquired a 2 bed flat in Wolvey, conveyancing having been completed March 1995. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Wolvey with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ceases on 21st October 2079
With just 54 years remaining on your lease we estimate the premium for your lease extension to range between £32,300 and £37,400 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.