My fiance and I intend to remortgage our apartment in Drybrook with HSBC. We have a son 18 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this form unique to the HSBC conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your HSBC 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 HSBC. This is solely used to protect HSBC 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 HSBC 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.
Should lawyers ask for money on account when it comes to conveyancing in Drybrook?
Where you are retaining lawyers for conveyancing in Drybrook your solicitor will ask you put them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. When the deposit is as part of the sale price then this will be needed immediately prior to exchange of contracts. The final balance that is due will be payable shortly before completion.
The deeds to our home can not be found. The lawyers who dealt with the conveyancing in Drybrook 4 years ago are no longer around. Will I be able to sell the house?
Gone are the days when you need to hold title original deeds to evidence that you are the registered proprietor of land or premises, as the Land Registry hold details of all registered land or property electronically.
I'm purchasing a new build house in Drybrook with a mortgage from National Westminster Bank. The builders refused to reduce the price so I negotiated 6k of additionals instead. The house builders rep advised me not disclose to my conveyancer about the extras as it may jeopardize my mortgage with the bank. Should I keep quiet?.
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.
As co-executor for the will of my father I am disposing of a property in Monmouth but I am based in Drybrook. My conveyancer (approximately 250 miles awayneeds me to execute a stat dec ahead of completion. Can you recommend a conveyancing practitioner in Drybrook who can witness and place their company stamp on the document?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are Drybrook based
Having had my offer accepted I require leasehold conveyancing in Drybrook. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Drybrook - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a garden flat in Drybrook, conveyancing was carried out 5 years ago. How much will my lease extension cost? Similar properties in Drybrook with a long lease are worth £265,000. The average or mid-range amount of ground rent is £50 per annum. The lease runs out on 21st October 2100
With just 76 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.