We were about to choose a conveyancing solicitor in Allestree listed by you but have come across alternative quotes on the internet seem less pricey – why is this?
There are a variety of solicitors offering theoretically looks to be extremely cheap conveyancing in Allestree. You should give due consideration about how much you respect your own move to want to take 'cheap' risks with regard to the quality of the conveyancing. Some hide additional charges deep into the terms of engagement. The law firms that we list for conveyancing in Allestree will notdo this.
My husband and I are refinancing our flat in Allestree with Bank of Ireland. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose 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 property is repossessed. I have two questions (1) Is this form unique to the Bank of Ireland conveyancing panel as he did not need 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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 am the registered owner of a freehold property in Allestree yet invoiced for rent, why is this and what is this?
It is rare for properties in Allestree and has limited impact for conveyancing in Allestree but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
Due to the guidance of my in-laws I had a survey completed on a house in Allestree prior to appointing solicitors. I have been informed that there is a flying freehold element to the property. The surveyor has said that some lenders may not issue a loan on such a premises.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Allestree. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been recommended by a couple of local estate agents in Allestree to find a conveyancer using your seach tool. What’s the financial inducement for Estate Agents to offer your services over another?
We don’t offer any financial incentive for directing people our way. We found it would be just too difficult a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £400,000 garden flat in Allestree in nine days. The management company has quoted £348 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Allestree?
Allestree conveyancing on leasehold flats nine out of ten times necessitates fees being levied by landlords agents :
Completing pre-contract questions
Where consent is required before sale in Allestree
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the registered owner of a 2 bed flat in Allestree, conveyancing was carried out in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Allestree with a long lease are worth £192,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ceases on 21st October 2075
With just 54 years unexpired we estimate the price of your lease extension to span between £32,300 and £37,400 plus legals.
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 a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.