My partner and I changing mortgage lender for our flat in Ashford Kent with Santander. 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. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of concerns (1) Is this document specific to the Santander conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your Santander 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 Santander. This is solely used to protect Santander 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 Santander 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.
Why do I have to pay up front for conveyancing in Ashford Kent?
Where you are retaining lawyers for conveyancing in Ashford Kent your lawyer will request that you to provide them with monies to cover the search fees. Ordinarily this is needed to cover the fees of the conveyancing searches. When the down payment is payable against the purchase price then this should be needed immediately in advance of exchange of contracts. The final balance that is needed should be sent to your lawyer shortly before completion.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Ashford Kent?
There are many registered licenced Conveyancers in Ashford Kent and Solicitor partnerships in Ashford Kent who can help with your conveyancing It is important to make clear that both are regulated professionals specialising in the legal aspects of the home buying process. They may both also handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I am helping my niece sell her house in Ashford Kent. Will the conveyancing solicitor arrange an energy assessment or should I organise this?
Following the demise of Home Packs, EPC’s was kept a compulsory element of moving property. An EPC needs to be to hand in advance of the property being advertised. This is not something that solicitors normally organise. Where you are using a Ashford Kent conveyancing practitioner they may help arrange energy assessments due to their contacts with reputable Ashford Kent accredited person
Are all Ashford Kent Conveyancing Quality Solicitors on the Nottingham conveyancing list of approved firms?
Some major banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Ashford Kent is where the house is located. Is there any guidance you can impart?
Flying freeholds in Ashford Kent are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ashford Kent you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ashford Kent may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
What makes a Ashford Kent lease unacceptable for security purposes?
Leasehold conveyancing in Ashford Kent is not unique. Most leases are drafted differently and drafting errors can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:
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Maintenance charge proportions which don’t add up to the correct percentage A provision for the recovery of money spent for the benefit of another party.
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Norwich and Peterborough Building Society, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.
I purchased a garden flat in Ashford Kent, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Ashford Kent with an extended lease are worth £222,000. The ground rent is £50 charged once a year. The lease runs out on 21st October 2090
You have 70 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use this information 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 want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.
Been reading online that Ashford Kent solicitors are more expensive than Ashford Kent conveyancers in Ashford Kent to use when buying a house. Am I better off using a conveyancer or a solicitor where I am purchasing for my home move in Ashford Kent.
When it comes to conveyancing in Ashford Kent the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.