My fiance and I intend to remortgage our maisonette in Seaforth with UBS. We have a son 18 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this document specific to the UBS conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this compromise his entitlement 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 UBS. This is solely used to protect UBS 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 UBS 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.
Do lawyers ask for money up-front for my conveyancing in Seaforth?
If you are buying a property in Seaforth your solicitor will request that you place them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the purchase price then this will be needed shortly in advance of exchange of contracts. The closing balance that is needed will be payable a couple of days ahead of the day of completion.
Do the Building Society Association intend to launch a search tool with a view to to identify law firms on the Earl Shilton BS conveyancing panel for example in Seaforth?
Lexsure has not been advised of any plans on the part of the BSA to develop such a search facility.
I am purchasing a new build house in Seaforth with the aid of help to buy. The sellers refused to reduce the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not inform my lawyer about this side-deal as it will affect my mortgage with Aldermore. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What tools are available to identify a Seaforth law firm on the Platform Home Loans Ltd conveyancing panel? I have wheels and am prepared to travel upto 25miles to meet the conveyancer.
Feel free to make use of the facility on this page. Please select a bank and your location and you will see a number of Seaforth conveyancing lawyers based on proximity. We have listed some Seaforth conveyancing firms towards the end of this page and you can call them to see whether they are on the Platform Home Loans Ltd member panel
Due to exchange soon on a ground floor flat in Seaforth. Conveyancing lawyers assured me that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Seaforth should include some of the following:
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Ground rent - what is due and when is collected, and also know whether this will change in the future Does the lease require carpeting throughout thus preventing wood flooring? Advice as to the provision as set out in the lease to pay service charges - in relation to the building, and the wider rights a lessee has Additions to the property The landlord’s rights to access the flat. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided.
I own a basement flat in Seaforth, conveyancing was carried out in 2000. Can you work out an approximate cost of a lease extension? Corresponding properties in Seaforth with an extended lease are worth £186,000. The ground rent is £55 levied per year. The lease terminates on 21st October 2077
With just 53 years left to run the likely cost is going to range between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.