It may have been a long time coming a mortgage offer from NatWest for the refinancing of my 2 room flat is due within the next few days. Can you propose a cheap conveyancing solicitor in Houghton Le Spring?
You are on the wrong site if you are seeking the cheapest conveyancing solicitors in Houghton Le Spring. Our aim is to provide cost effective conveyancing but our intention is not to work with the cheapest lawyers. Do not be fooled by brokers teasing you with £100 conveyancing in Houghton Le Spring. The optimum outcome, in being led by cheap conveyancing, you will get your money’s worth and at worst you will end up invoiced for extras and still not receive the service you were hoping for.
My partner and I swapping mortgage lender for our apartment in Houghton Le Spring with Nationwide. We have a son approaching twenty 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, waiving any legal rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this form unique to the Nationwide conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this compromise his rights 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.
I own a freehold premises in Houghton Le Spring but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Houghton Le Spring and has limited impact for conveyancing in Houghton Le Spring but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Have completed on a a detached house in Houghton Le Spring , What is the estimated time for the Land Registry to deal with the formalities evidencing my ownership? My Houghton Le Spring conveyancing solicitor has been very slow, so I want to check that my name is registered.
As far as conveyancing in Houghton Le Spring is concerned, registration is no faster or slower than anywhere else in the country. Rather than based on location, timeframes can adjust depending on who lodges the application, whether there are errors and if the Land registry must send notices to any other parties. At present in the region of three quarters of such applications are fully addressed within two weeks but occasionally there can be longer delays. Registration takes place after the buyer is living at the property so 'speed' is not usually primary concern yet where there is a degree of urgency associated with the registration then you or your solicitor could communicate with the Registry to express the reasoning for the application to be prioritised.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Houghton Le Spring is where the house is located. Can you offer any advice?
Flying freeholds in Houghton Le Spring are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Houghton Le Spring you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Houghton Le Spring may decide 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 premises.
What advice can you give us when it comes to choosing a Houghton Le Spring conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Houghton Le Spring conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with two or three firms including non Houghton Le Spring conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
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What are the costs for lease extension work? How many lease extensions has the firm conducted in Houghton Le Spring in the last twenty four months?
I am the registered owner of a studio flat in Houghton Le Spring, conveyancing was carried out December 1995. 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 Houghton Le Spring with a long lease are worth £211,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2093
You have 68 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.