I am expecting a offer of a home loan from Nat West. My intention is to employ the services of a Licensed Conveyancer in Heanor. Does the Nat West Conveyancing panel include Licensed Conveyancers?
The Nat West conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My fiance and I changing mortgage lender for our maisonette in Heanor with Yorkshire BS. 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 apartment is repossessed. I have a couple of concerns (1) Is this document specific to the Yorkshire BS conveyancing panel as he never had to sign this form when we purchased 4 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 Yorkshire BS. This is solely used to protect Yorkshire BS 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 Yorkshire BS 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 are close to exchanging contracts on the sale of our house in Heanor and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers instructed a web based conveyancing outfit rather than a conveyancing solicitor in Heanor. We have lived in Heanor for many years we know of no issue. Is it a good idea to get in touch with our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
My husband and I are first time buyers - had an offer accepted, but the agent told us that the vendor will only issue a contract if we appoint the agent's chosen lawyers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a family solicitor with experience of conveyancing in Heanor
It is highly unlikely the vendors are driving this. Should the vendor require ‘a quick sale', taking such a hostile approach to a serious buyer is is going to put the whole deal at risk. Contact the vendors directly and explain that (a)you are serious buyers (b)you are excited to move forward, with finances in place © you are unencumbered (d) you intend to proceed fast (e)but you intend to use your preferred Heanor conveyancing firm - as opposed tothe ones that will provide their negotiator at the agency a kickback or meet his conveyancing targets set by head office.
I work for a reputable estate agency in Heanor where we see a number of flat sales jeopardised as a result of short leases. I have been given inconsistent advice from local Heanor conveyancing solicitors. Can you shed some light as to whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a 1st floor flat in Heanor, conveyancing was carried out in 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Heanor with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 per annum. The lease comes to an end on 21st October 2091
With 68 years left to run we estimate the premium for your lease extension to be between £9,500 and £11,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.