My husband and I intend to remortgage our maisonette in Biddulph with Lloyds. We have a son approaching twenty who lives at home. Our solicitor requested us to identify any adults 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 flat is forfeited by the lender. I have two questions (1) Is this document specific to the Lloyds conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this extinguish his entitlement 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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.
Do banks and building societies provide you with an approved list of Biddulph conveyancing solicitors? How do you know who is on the Aldermore conveyancing panel?
Biddulph conveyancing firms themselves provide us confirmation that they are on the Aldermore conveyancing panel as opposed to being supplied with a list from Aldermore directly.
This question may be naive but I am new to the process as a first time buyer of a garden flat in Biddulph. Do I pick up the keys to the property on the completion date from my solicitor? If so, I will use a local conveyancing solicitor in Biddulph?
On the day of completion you do not need to attend the conveyancers office in Biddulph. Conveyancing lawyers for you will transfer the purchase money to the seller's lawyers, and shortly after the monies have arrived, you should be able to pick up the keys from the selling Agents and start moving into the property. This tends to happen early afternoon.
We were going to get a DIP from Virgin Money this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Biddulph solicitors on the Virgin Money conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Biddulph solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I have decided to exercise my right to buy my property in Biddulph off the council. I have a mortgage agreed with Clydesdale. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
What will a local search tell me regarding the property my wife and I purchasing in Biddulph?
Biddulph conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for example Searchflow The local search is essential in every Biddulph conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search should provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
My partner and I may need to rent out our Biddulph ground floor flat for a while due to a new job. We instructed a Biddulph conveyancing practice in 2004 but they have closed and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?
Notwithstanding that your previous Biddulph conveyancing lawyer is no longer available you can check your lease to check if you are permitted to let out the apartment. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you must seek permission via your landlord or other appropriate person in advance of subletting. This means you not allowed to sublet in the absence of first obtaining consent. Such 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 own a studio flat in Biddulph, conveyancing was carried out 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Biddulph with a long lease are worth £211,000. The average or mid-range amount of ground rent is £50 yearly. The lease expires on 21st October 2093
With only 68 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.