My husband and I are refinancing our apartment in Grenoside with Kent Reliance. We have a son 19 who lives at home. Our solicitor requested us to identify 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 property is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Kent Reliance 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?
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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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.
I require quick conveyancing in Grenoside as I have pressure to sign on the dotted line within one month. Thankfully I do not require a mortgage. Can I decline from having conveyancing searches to save money and time?
As you are are a mortgage free buyer you have the choice not to have searches conducted although no conveyancer would advise that you don't. With lots of history conveyancing in Grenoside the following are examples of issues that can crop up and adversely affect market value: Refused Planning Applications, Outstanding Charges, Overdue Grants, Road Schemes,...
I am buying a new build apartment in Grenoside. 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 conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Grenoside
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Grenoside is where the house is located. Can you offer any advice?
Flying freeholds in Grenoside are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Grenoside you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Grenoside may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Can you provide any advice for leasehold conveyancing in Grenoside with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Grenoside can be reduced where you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ solicitors. If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than ongoing. You believe that you know the number of years left on your lease but it would be wise to verify this via your lawyers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Grenoside state that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord consenting to such changes. Should you dont have the approvals in place do not contact the landlord without contacting your lawyer before hand. A minority of Grenoside leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
I am the registered owner of a 1 bedroom flat in Grenoside, conveyancing was carried out in 2012. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Grenoside with an extended lease are worth £265,000. The ground rent is £50 invoiced every year. The lease expires on 21st October 2102
With only 76 years left to run we estimate the price of your lease extension to range between £8,600 and £9,800 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered 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.
I am seeking to buy a repression flat in Grenoside and the bank selling require completion inside a month. Do conveyancers complete in this timeframe? Am I best advised to use a high street Grenoside firm or an online firm that professes to offer speedy conveyancing?
Attend your Grenoside shopping parade. Pop in to 3 companies and ask to talk to a conveyancing solicitor for a quote. Explain your needs and get a commitment on speed. Select the firm that comes across as most efficient. Be sure to select a conveyancing practitioner on the list of conveyancing practitioners acceptable to your bank.