My fiance and I are refinancing our flat in Fowey with RBS. 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. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the RBS 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?
First, rest assured that your RBS 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 RBS. This is solely used to protect RBS 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 RBS 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.
My brother-in-law has suggested I instruct a conveyancing solicitor in Fowey. I I would like to check if they are accepted on the Clydesdale approved list of lawyers. Could you or the lender confirm if they are on the panel?
The first thing you should do is call your conveyancer and ask them whether they can act for the bank. Alternatively please call Clydesdale who may be able to assist.
I have been advised by my lawyer that breach of easement insurance is required on my purchase. What is the level of cover for Fowey conveyancing?
The right level of breach of easement indemnity insurance depends on who your lender is. It would differ for example between HSBC Bank and Leeds Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Fowey 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 normal?
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 conveyancer 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 Fowey 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 Fowey.
My sealed bid on a house in Fowey has been agreed to, but there is a chain. The owners have offered on a flat, but it’s not yet tied up, and are looking at other properties booked. I have selected a local conveyancing solicitor in Fowey. What should be my next step? When do I get the mortgage application with Aldermore started?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of £1k, then valuation, Fowey conveyancing search costs, etc). First, you should check that your lawyer is on the Aldermore conveyancing panel. As to the next phase this very much depends on the circumstances of your transaction, motivation for the property and on the state of the market. In a buoyant market the majority of home buyers would apply for the mortgage with Aldermore and arrange for the valuation and only if it comes back ok would they ask their conveyancer to move forward with the conveyancing in Fowey.
I am thinking of appointing a conveyancing lawyer in Fowey for my house move. Is there any facility to see a solicitor's complaints history with the profession’s regulator?
Members of the public can review presented Solicitor Regulator Association (SRA) determinations stemming from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. For details Pre 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA may monitor call for training requirements.
There are only Fifty years remaining on my flat in Fowey. I need to extend my lease but my landlord is can not be found. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to find the lessor. On the whole an enquiry agent would be helpful to carry out a search and to produce an expert document to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the application to the County Court covering Fowey.
I bought a split level flat in Fowey, conveyancing having been completed in 2000. How much will my lease extension cost? Similar properties in Fowey with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease finishes on 21st October 2092
With just 71 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.