My husband and I intend to remortgage our maisonette in Sheldon with TSB. 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. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is repossessed. I have two concerns (1) Is this document specific to the TSB conveyancing panel as he did not need to sign this form when we purchased 5 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 TSB 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 TSB. This is solely used to protect TSB 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 TSB 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.
I have been told by my lawyer that lack of planning permission insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Sheldon?
The right level of lack of planning permission indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and Skipton Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
My husband and I are in the process of viewing flats in Sheldon and I am now considering a potential offer. Is it sensible to have my property lawyer on ‘stand by’? I intend to finance via a mortgage with Nottingham.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. Given that you are taking out a mortgage with Nottingham, ask your prospective lawyers if they are on the Nottingham conveyancing panel otherwise they can't do the mortgage legal work.
About to purchase house in Sheldon. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Sheldon solicitor is on the Virgin Money conveyancing panel.
Will commercial conveyancing searches disclose proposed roadworks that could impact a commercial site in Sheldon?
Many commercial conveyancing solicitors in Sheldon will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Sheldon. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Sheldon.
For every commercial conveyancing transaction in Sheldon it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can result in delays to Sheldon commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Sheldon.
We are 17 days into a residential purchase having been recommend to conveyancers by the high street agent to do our conveyancing in Sheldon. I am am very disappointed with the level of service. Could you you assist me in finding new solicitors?
They would have to be really bad in order to consider replacing them. Has the loan offer been sent? In the event that it has you must make them aware of the new contact details and have the offer are issued to the new lawyers. Your conveyancer needs to be on the mortgage company panel to avoid supplemental charges and delays. That should be your first question of the new conveyancers. Our search tool should help you find a lender approved solicitor for your conveyancing in Sheldon
I am hoping to complete next month on a ground floor flat in Sheldon. Conveyancing solicitors inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Sheldon should include some of the following:
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You must be advised what is to be regarded as a Nuisance as far as the lease is concerned It needs to be made clear to you if the lease permits you to alter or upgrade anything in the property- you must know whether it relates to all alterations or just structural alteration, and whether permission is mandated necessary Defining your rights in relation to common areas in the building.For example, does the lease grant a right of way over a path or staircase? Repair and maintenance of the premises Responsibility to repair and maintain the block. It is essential for you to know which party is responsible the repair and maintenance of all parts of the block and estate
I own a 2 bed flat in Sheldon, conveyancing was carried out 7 years ago. How much will my lease extension cost? Comparable flats in Sheldon with an extended lease are worth £260,000. The ground rent is £45 levied per year. The lease ceases on 21st October 2098
You have 74 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. 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 you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.