I'm in the process of transferring my existing standard mortgage to a BTL National Westminster Bank mortgage. I have been informed by my broker that I must appoint a lawyer for this. I got in contact with my former Goodrich conveyancing solicitor who who did the conveyancing when I originally acquired the premises. The fee calculation provided of £450 plus VAT is surprising as its a remortgage than a sale or purchase.
The charges appear a bit high. If you shop around you could decrease the fees marginally by perhaps £100 plus VAT. That being said, if you were pleased with the legal work the firm provided you couldcome to regret choosing an an untested solicitor. Remember to ensure the firm can act for National Westminster Bank. You can make use of our search tool to select a Goodrich conveyancing firm on the National Westminster Bank conveyancing panel, which can often include conveyancing solicitors in Goodrich.
My partner and I changing mortgage lender for our apartment in Goodrich with Nationwide. We have a son 18 who lives with us. Our solicitor requested us to identify any adults 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 questions (1) Is this form unique to the Nationwide conveyancing panel as he did not need to sign this form when we purchased 5 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 Nationwide. This is solely used to protect Nationwide 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 Nationwide 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 our solicitor be raising questions regarding flooding during the conveyancing in Goodrich.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Goodrich. There are those who buy a house in Goodrich, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, however there are a numerous searches that can be initiated by the purchaser or by their lawyers which should give them a better appreciation of the risks in Goodrich. The standard information supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a standard inquiry of the owner to find out if the property has suffered from flooding. In the event that flooding has previously occurred which is not notified by the owner, then a purchaser could commence a compensation claim as a result of such an incorrect reply. The buyer’s solicitors should also order an enviro report. This should indicate if there is a recorded flood risk. If so, further investigations will need to be conducted.
Just had an offer accepted on a new build apartment in Goodrich. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Goodrich
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. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
What makes a Goodrich lease defective?
There is nothing unique about leasehold conveyancing in Goodrich. Most leases are individual and drafting errors can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:
A duty to insure the building A provision to repair to or maintain elements of the premises
You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Skipton Building Society, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.
I invested in buying a leasehold flat in Goodrich, conveyancing was carried out September 2012. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Goodrich with an extended lease are worth £202,000. The ground rent is £55 invoiced every year. The lease runs out on 21st October 2077
With just 56 years remaining on your lease we estimate the price of your lease extension to span between £29,500 and £34,000 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
I note that you have a post code search directory identifying law firms on the mortgage company conveyancing panel. Do Goodrich conveyancing companies pay you a referral fee if I instruct them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the lender conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Goodrich.