My partner and I intend to remortgage our apartment in Bagshot with Co-operative. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Co-operative conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this giving up his rights 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 Co-operative. This is solely used to protect Co-operative 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 Co-operative 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 selling my house in Bagshot. Will the conveyancing practitioner have to be required to be on the Leeds Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.
Just bought a terraced house in Bagshot , how long will it take for the Land Registry to deal with the formalities evidencing my title? My Bagshot conveyancing solicitor has been very slow, so I want to check the land registry aspects are addressed.
As far as conveyancing in Bagshot is concerned, registration is no faster or slower than the rest of England and Wales. Rather than based on location, timescales can adjust depending on who lodges the application, whether it is in order and if the Land registry must send notices to any 3rd parties. Currently roughly 80% of such applications are fully addressed within two weeks but some can be subject to longer delays. Historically registration is effected after the buyer has moved in to the property so registration formalities is not typically an essential issue but where there is a degree of urgency associated with the registration then you or your solicitor could speak with the land registry and explain the circumstances.
What tools are available to locate a Bagshot law firm on the Halifax conveyancing panel? I am a keen cyclist and am happy to travel upto 20kilometers to meet the lawyer.
Feel free to make use of the facility on this website. Please choose the bank and your location and you will see a number of Bagshot conveyancing lawyers located nearest you. We have detailed some Bagshot conveyancing firms at the bottom of this page and you can ring them to verify if they are on the Halifax approved list
My husband and I are first time buyers - had an offer accepted, yet the agent has warned us that the vendor will only go ahead if we appoint their chosen lawyers as they need a ‘quick sale’. Our preferred option is to instruct a local solicitor used to conveyancing in Bagshot
It is improbable the owners are driving this. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is is going to put the whole deal at risk. Avoid the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you intend to use your own,trusted Bagshot conveyancing firm - as opposed tothe ones that will earn the negotiator at the agency a introducer fee or hit his conveyancing thresholds pre-set by corporate headquarters.
I am attracted to a two apartments in Bagshot both have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease deteriorates and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena.
I acquired a split level flat in Bagshot, conveyancing was carried out October 2011. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Bagshot with over 90 years remaining are worth £201,000. The ground rent is £45 yearly. The lease terminates on 21st October 2089
You have 64 years left to run the likely cost is going to span between £14,300 and £16,400 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.