My wife and I are refinancing our maisonette in Chadderton with Skipton. We have a son 18 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document 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 Skipton conveyancing panel as he did not need to sign this form when we bought 3 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 Skipton. This is solely used to protect Skipton 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 Skipton 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.
We are selling our home in Chadderton. Does my property lawyer need to be required to be on the Santander conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Santander 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 specifications fairly frequently currently.
How does conveyancing in Chadderton differ for newly converted properties?
Most buyers of new build residence in Chadderton approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is ready to move into. This is because developers in Chadderton tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Chadderton or who has acted in the same development.
I have been on the look out for a ground for flat up to £245,000 and found one close by in Chadderton I like with amenity areas and station in the vicinity, however it's only got 52 remaining years left on the lease. I can't really find anything else in Chadderton for this price, so just wondered if I would be making a mistake buying a short lease?
Should you require a home loan the remaining unexpired lease term may be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
My company is wishing to take an assignment of a lease of a shop on a shopping parade. Can you recommend lawyers offering no-move-no costs for non-domestic conveyancing in Chadderton for under £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Chadderton, including the disposal and purchase of businesses as well as simply premises. Whether you are intending to purchase or sell a shop, pub, restaurant, office, retail unit or a complete business we will put you in touch with the right firm. Regarding the costs these will vary based on the structure and complexity of the deal. Let us have your details or call us so that we can supply you with a fixed commercial conveyancing calculation.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £300,000 maisonette in Chadderton in just under a week. The landlords agents has quoted £312 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Chadderton?
Chadderton conveyancing on leasehold flats often requires the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be willing to assist. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee demanded by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, otherwise the charge is technically not due. In reality you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I own a leasehold flat in Chadderton, conveyancing having been completed 10 years ago. How much will my lease extension cost? Equivalent flats in Chadderton with an extended lease are worth £216,000. The ground rent is £50 levied per year. The lease comes to an end on 21st October 2090
With just 69 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 plus legals.
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 without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.