My husband and I swapping mortgage lender for our apartment in Caddington with RBS. We have a son 19 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 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 flat is forfeited by the lender. I have two concerns (1) Is this form unique to the RBS 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?
First, rest assured that your RBS 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 RBS. This is solely used to protect RBS 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 RBS 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.
What does my ID and proof of funds have anything to do with my conveyancing in Caddington? What am I being asked for?
In order to comply with Money Laundering Regulations any Caddington conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account evidencing your correct address.
Under Money Laundering Regulations, conveyancers are required to check not simply the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. Refusal to disclose this will lead to your lawyer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to inform the appropriate authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
I am helping my mother sell her property in Caddington. Does the conveyancer commission the EPC or it is for the owner to coordinate?
Following the abolition of HIPs, energy performance certificates remained a compulsory part of selling a house. An energy performance certificate needs to be commissioned in advance of the property being advertised. It is not a task that conveyancers ordinarily arrange. If you are instructing a Caddington conveyancing solicitor they may help arrange EPC’s given their relationships with long established Caddington energy assessors
We are getting the release of further monies on our mortgage from Barclays as we wish to carry out a loft conversion to our house in Caddington. Do we need to choose a bricks and mortar Caddington solicitor on the Barclays conveyancing panel to handle the paperwork?
Barclays would not normally require firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays list.
We have agreed to purchase a house in Caddington. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Santander be concerned?
Given that your lender is Santander your lawyer must comply with the formal instructions contained in Part 2 of UK Finance Lenders’ Handbook for Santander. The CML Handbook includes minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to Santander where a lease fails to satisfy these provisions. The specifications relate to the installation of panels on properties countrywide and is not limited to Caddington.
I used Stirling Law several years past for my conveyancing in Caddington. Now, I need the documents however the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Caddington of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking to sell my house. My former lawyers closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in Caddington if that affects matters.
You should use our search tool to help you choose a solicitor for your conveyancing in Caddington. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
I am attracted to a couple of apartments in Caddington both have in the region of 50 years remaining on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Caddington is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of buyers and mortgage companies, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Caddington conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I bought a split level flat in Caddington, conveyancing having been completed June 2006. How much will my lease extension cost? Similar flats in Caddington with a long lease are worth £180,000. The ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2083
With only 58 years left to run we estimate the price of your lease extension to range between £22,800 and £26,400 as well as costs.
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 the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.