My husband and I intend to remortgage our apartment in Wenvoe with HSBC. We have a son 19 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of concerns (1) Is this form unique to the HSBC conveyancing panel as he never had to sign this form when we remortgaged 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 HSBC 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 HSBC. This is solely used to protect HSBC 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 HSBC 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 Wenvoe conveyancing firm that just started acting on my purchase in Wenvoe have without warning closed. They were on acting for me because I had to have a lawyer on the Coventry BS conveyancing panel and my preferred Wenvoe lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved then inform them immediately so that they advise the vendors 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 Coventry BS 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 assist.
I have recentlyfound out that Arc property Solicitors have closed. They conducted my conveyancing in Wenvoe for a purchase of a freehold house 12 months ago. How can I be sure that the property is in my name in the name of the previous owner?
The easiest method to see if the premises 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 Wenvoe conveyancing specialists.
Hoping to buy a property located in Wenvoe and I am already nervous. I couldn't find anything specific about Wenvoe. Conveyancing will be needed in due course but do you know about the Wenvoe area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Wenvoe. In the meantime here are some basic statistics that we found
If all goes to plan we aim to complete the disposal of our £250,000 maisonette in Wenvoe on Monday in a week. The managing agents has quoted £336 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Wenvoe?
Wenvoe conveyancing on leasehold flats more often than not involves the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to assist. They are entitled to invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some transactions it is above £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality you have little option but to pay whatever is demanded should you wish to complete the sale of your home.
I am the registered owner of a 2 bed flat in Wenvoe, conveyancing was carried out 5 years ago. How much will my lease extension cost? Equivalent flats in Wenvoe with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 per annum. The lease runs out on 21st October 2077
With only 53 years left to run we estimate the premium for your lease extension to be between £27,600 and £31,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.