My partner and I are refinancing our apartment in Northop Hall with Principality. We have a son 18 who lives with us. 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 flat is repossessed. I have a couple of concerns (1) Is this document specific to the Principality 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 Principality. This is solely used to protect Principality 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 Principality 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.
The Northop Hall conveyancing solicitors that I appointed last week on my purchase in Northop Hall have suddenly closed. They were on acting for me because I needed a firm on the Barclays conveyancing panel and my family Northop Hall lawyer was not. I paid them funds on account. What do I do now?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Barclays conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
I have todaydiscovered that Arc property Solicitors have closed. They carried out my conveyancing in Northop Hall for a purchase of a leasehold flat 9 months ago. How can I be sure that my home is in my name in the name of the former proprietor?
The easiest method to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Northop Hall conveyancing specialists.
I am a fortnight into a residential purchase having been directed to a firm by the local agent to do our conveyancing in Northop Hall. I am am very frustrated with the quality of service. Can you help me find new solicitors?
A solicitor would have to be really bad in order to consider diss instructing them. Has your mortgage been generated? If so you must inform them of the new contact details and get the mortgage documents are re-sent. The conveyancer should be on the lenders approved list to avoid supplemental expenses and frustration. That should be your starting point. Our find a solicitor tool should assist you in finding a lender approved conveyancer for your home move in Northop Hall
I am in need of some leasehold conveyancing in Northop Hall. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Northop Hall - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I purchased a studio flat in Northop Hall, conveyancing was carried out in 2003. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Northop Hall with a long lease are worth £181,000. The average or mid-range amount of ground rent is £55 per annum. The lease comes to an end on 21st October 2072
With 51 years unexpired we estimate the premium for your lease extension to be between £30,400 and £35,200 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.