My wife and I swapping mortgage lender for our penthouse in Calcot with Nottingham. We have a son 19 who lives at home. Our solicitor has asked us to disclose any adults 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 form unique to the Nottingham conveyancing panel as he never had to sign this form when we bought 4 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 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.
My friend suggested that where I am purchasing in Calcot I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Calcot conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Calcot around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning Calcot.
Just had an offer accepted on a new build flat in Calcot. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Calcot
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision.
What does commercial conveyancing in Calcot cover?
Commercial conveyancing in Calcot covers a wide range of advice, given by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
What are your top tips when it comes to appointing a Calcot conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Calcot conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Calcot conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be of use:
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Can they put you in touch with clients in Calcot who can give a testimonial? How experienced is the firm with lease extension legislation?
I inherited a ground floor flat in Calcot, conveyancing was carried out 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Calcot with over 90 years remaining are worth £265,000. The ground rent is £50 per annum. The lease ends on 21st October 2102
With 76 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
I am purchasing a maisonette mortgage free. My solicitor has been supplied with with two separate proof of photographic ID, bank statement, numerous utility bills. Now he requires a copy from a probate lawyer stating that the money is in place and that it has come from inheritance and not dealing E's in Ibiza.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Calcot conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.