My partner and I intend to remortgage our penthouse in Feltwell with Aldermore. We have a son 18 who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have a couple of questions (1) Is this document specific to the Aldermore conveyancing panel as he never had to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Aldermore 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 Aldermore. This is solely used to protect Aldermore 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 Aldermore 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 conveyancers request money up-front for conveyancing in Feltwell?
Where you are retaining lawyers for conveyancing in Feltwell your lawyer will request that you place them with monies to cover the the cost of the conveyancing searches. Generally this is asked for to cover the fees of the conveyancing searches. If any deposit is as part of the total price then this will be required shortly in advance of contracts are exchanged. The final balance that is due should be sent to your lawyer a few days ahead of the completion date.
It has been 3 months following my purchase conveyancing in Feltwell concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I need to instruct a conveyancing lawyer in Feltwell for my house move. Can I see a firm’s record with the profession’s regulator?
Anyone may find documented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, dial +44 (0)121 329 6800. The regulator sometimes recorded call for training purposes.
Partway through the sale of a leasehold flat in Feltwell. Conveyancing is fine but we have been asked to pay a fortune by the managing agents. So far we have issued a cheque for £295.50 for a leasehold management information and then another £117.20 for responses to queries supplied by the buyers conveyancing practitioner.
Your conveyancer will unlikely have any say over the level of the fee for this information but the average fee for the information for Feltwell leasehold property is £350. When it comes to Feltwell conveyancing transactions it is usual for the seller to cover the costs. The landlord or their agents are under no legal obligation to answer such questions most will be content to do so - albeit often at exorbitant prices out of proportion to the work involved. Regretfully there is no legislation that requires capped fees for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.