My partner and I intend to remortgage our penthouse in Perranporth with Clydesdale. We have a son 18 who lives with us. Our solicitor requested us to identify anyone over the age of 17 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 property is repossessed. I have a couple of concerns (1) Is this form unique to the Clydesdale conveyancing panel as he never had to sign this form when we bought 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 Clydesdale. This is solely used to protect Clydesdale 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 Clydesdale 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 Perranporth conveyancing solicitors that I appointed last week on my purchase in Perranporth have suddenly shut down. I only went with them because I had to have a firm on the Kent Reliance conveyancing panel and my family Perranporth lawyer was not. I paid them £170 in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will 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 Kent Reliance 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 may be able to help.
Should my conveyancer be making enquiries about flooding during the conveyancing in Perranporth.
Flooding is a growing risk for conveyancers dealing with homes in Perranporth. Plenty of people will purchase a property in Perranporth, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, however there are a various checks that can be initiated by the purchaser or by their lawyers which can figure out the risks in Perranporth. The conventional set of property information forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard question of the vendor to discover whether the property has suffered from flooding. If the property has been flooded in past which is not revealed by the seller, then a purchaser could bring a compensation claim as a result of such an inaccurate response. A buyer’s solicitors should also commission an enviro search. This will higlight whether there is any known flood risk. If so, additional investigations will need to be conducted.
I need to retain a conveyancing solicitor for freehold conveyancing in Perranporth. I happened to stumble across a web site which appears to be the ideal offering If it is possible to get all the legals completed via phone that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have just started marketing my garden flat in Perranporth. Conveyancing is yet to be initiated, however I have just had a half-yearly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as you normally would given that all ground rent and service charges will be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I purchased a 1st floor flat in Perranporth, conveyancing was carried out February 1995. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Perranporth with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ceases on 21st October 2080
With only 55 years unexpired we estimate the premium for your lease extension to range between £31,400 and £36,200 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.