My husband and I intend to remortgage our flat in Bodmin with Leeds Building Society. We have a son 19 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have two concerns (1) Is this document specific to the Leeds Building Society conveyancing panel as he did not need 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?
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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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.
This question may be naive but I am new to the house moving as FTB of a garden flat in Bodmin. Do I collect the keys to the property on the completion date from my conveyancer? If so, I will instruct a local conveyancing solicitor in Bodmin?
On the day of completion you do not need to go to the conveyancers office in Bodmin. Conveyancing lawyers for you will electronically transfer the purchase money to the vendor’s lawyers, and once they have received this, you should be invited to collect the keys from the property Agents and start moving into the property. Usually this happens early afternoon.
We have agreed to purchase a house in Bodmin. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Principality be concerned?
Given that your lender is Principality your lawyer must check the formal instructions contained in Section 2 of UK Finance Lenders’ Handbook for Principality. The CML Handbook includes minimum conditions for solar panel roof-space leases, and lawyers are required to report to Principality where a lease fails to comply with these specifications. The provisions relate to the installation of panels on properties in England and Wales and is not restricted to Bodmin.
I am currently in the process of buying my council flat in Bodmin. I have a mortgage offer with Santander. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
I appreciate that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when acquiring a house in Bodmin? or I am told that there is a law dating back centuries that means some owners of property residing in a parish church boundary will be compelled to contribute towards maintenance towards the chancel in proximity to the church. Is this relevant for conveyancing in Bodmin?
Unless a prior acquisition of the premises completed post 12 October 2013 you can take it that solicitors carrying out conveyancing in Bodmin to remain encouraging a chancel search and or chancel repair liability policy.
I am a sole trader intending to take over a lease of an office on a shopping parade. Can you recommend solicitors offering no-move-no costs for commercial conveyancing in Bodmin for under 2k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Bodmin, including the sale and acquisition of businesses as well as simply premises. If you are intending to purchase or sell a shop, pub, restaurant, office, retail unit or a complete business we can find you the right firm. As for the fees these will vary based on the structure and complexity of the proposed transaction. Let us have your contact information or phone us so that we may supply you with comprehensive commercial conveyancing calculation.
Last December I purchased a leasehold house in Bodmin. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a basement flat in Bodmin, conveyancing having been completed 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Bodmin with a long lease are worth £186,000. The ground rent is £55 invoiced annually. The lease ends on 21st October 2078
You have 53 years unexpired we estimate the price of your lease extension to span between £27,600 and £31,800 as well as legals.
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. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
New build sellers have suggested I use a solicitor and I've received a quote from them. They are nearly three hundred pounds cheaper than my own Bodmin conveyancing practitioner. What's the catch?
Housebuilders normally have panels of conveyancers who are quick and who know the seller’s paperwork and solicitor. As many developers offer an inducement to select their approved conveyancer for this reason, any increased cost can be avoided and a builder will not suggest a conveyancing factory and run the risk of having the transaction stall when they want exchange within a tight time frame. The argument for not agreeing to use the suggested conveyancing practitioner is that they may be hesitant to fight for your interests for fear of alienating the sellers. If you worry that this may be the case you should stick with your local Bodmin lawyer.