I plan on purchasing residence in Yeovil. My Solicitor is not listed on the bank conveyancing list. Can I still use my Yeovil conveyancing solicitor notwithstanding that they are not on the bank panel of approved conveyancing solicitors?
One must instruct a lawyer to deal with the legal work required if you require a loan to purchase your home. They will carry out all the essential due diligence on the property, ensuring that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in order. You can instruct a Yeovil property lawyer of your choice. However, where the conveyancer selected is not on the bank solicitor panel further charges will be levied as separate legal representation will be required by them. Bank panel applications can be submitted, so where your solicitor has not in the past sought membership they should take the chance to apply.
My wife and I intend to remortgage our penthouse in Yeovil with Nationwide. 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 property is repossessed. I have two questions (1) Is this document specific to the Nationwide conveyancing panel as he never had to sign this form when we remortgaged 3 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 Nationwide. This is solely used to protect Nationwide 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 Nationwide 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.
Our lender has suggested solicitors on their panel based in Yeovil but I would rather choose a conveyancing lawyer in Yeovil or nearer to where I live. Are you able to assist?
Far from all Yeovil conveyancing firms are listed all lender’s conveyancing panel. Use our find an approved solicitor tool to locate a Yeovil conveyancing solicitor on the on the mortgage company panel.
A friend suggested that if I am purchasing in Yeovil I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Yeovil conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Yeovil around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Yeovil Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information regarding Yeovil.
Are there restrictive covenants that are commonly identified during conveyancing in Yeovil?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Yeovil. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I want to let out my leasehold apartment in Yeovil. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your last Yeovil conveyancing lawyer is no longer around you can review your lease to check if it allows you to sublet the apartment. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you need to obtain consent from your landlord or some other party before subletting. This means you not allowed to sublet in the absence of prior consent. The consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I inherited a garden flat in Yeovil, conveyancing was carried out 8 years ago. How much will my lease extension cost? Corresponding properties in Yeovil with over 90 years remaining are worth £211,000. The ground rent is £50 charged once a year. The lease finishes on 21st October 2093
With only 68 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.