My wife and I intend to remortgage our flat in Borth with Nottingham. We have a son 19 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. 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 two questions (1) Is this form unique to the Nottingham conveyancing panel as he did not need to sign this form when we remortgaged 3 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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.
The deeds to my house can not be found. The conveyancers who did the conveyancing in Borth 10 years ago no longer exist. What are my options?
As long as the title is registered the information relating to your proprietorship will be documented by the Land Registry under a Title Number. It is easy to perform a search at the Land Registry, locate your house and get up to date copies of the Registered Entries for a small fee. Where the title is Leasehold then the Land Registry will in most cases hold a certified duplicate of the Registered Lease and again, a copy can be retrieved for twenty pounds.
I am buying my first flat in Borth with the aid of help to buy. The sellers refused to move on the price so I negotiated 6k of extras instead. The house builders rep suggested that I not inform my lawyer about the extras as it will jeopardize my mortgage with the bank. 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.
I opted to have a survey done on a house in Borth before retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some lenders will not grant a mortgage on this type of house.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Borth. Conveyancing will be smoother if you use a solicitor in Borth especially if they are acquainted with such properties in Borth.
All being well we will complete the disposal of our £250,000 apartment in Borth next week. The managing agents has quoted £312 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Borth?
Borth conveyancing on leasehold flats more often than not involves the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They are entitled to invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.
I acquired a 1 bedroom flat in Borth, conveyancing was carried out in 2004. Can you work out an approximate cost of a lease extension? Similar properties in Borth with a long lease are worth £190,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2086
With only 62 years left to run the likely cost is going to span between £17,100 and £19,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
Been on the hunt for a conveyancer for leasehold sale conveyancing in Borth. We are selling, simple no mortgage to pay off, no hurry, currently vacant. Got a quote from a conveyancing practitioner for £800 plus VAT which is a tad high considering its so straightforward. Is it possible to find less expensive fees for conveyancing in Borth?
As it’s a sale only, £425 + VAT would be about the cheapest for a Borth solicitor firm.