I am getting a offer of a home loan from Nat West. I would like to retain the legal services of a Licensed Conveyancer in Hunstanton. Does the Nat West Solicitor panel exclude conveyancers regulated by the CLC?
The Nat West approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My wife and I are refinancing our flat in Hunstanton with Santander. We have a son 18 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the Santander conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Santander 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 Santander. This is solely used to protect Santander 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 Santander 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.
My uncle passed away six months ago and as sole heir and executor I was left the house in Hunstanton. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this allowed?
Given you intend to re-mortgage then Aldermore will require that you use a conveyancer on the Aldermore conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aldermore conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aldermore mortgage is registered as a charge at the Land Registry.
I need some quick conveyancing in Hunstanton as I am faced with a deadline to complete inside 2 weeks. Thankfully I do not need a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
If.Given you are are a cash buyer you are at free not to have searches carried out although no solicitor would advise that you don't. With lots of history conveyancing in Hunstanton the following are examples of issues that can appear and therefore affect market value: Enforcement Actions, Overdue Fees, Outstanding Grants, Railway Schemes,...
Just acquired a detached house in Hunstanton , how long should it take for the Land Registry to record my title? My Hunstanton conveyancing solicitor has been painfully slow, so I want to be sure the registration is addressed.
There is nothing unique when it comes to conveyancing in Hunstanton registration formalities. As opposed to being determined by geographic area, timeframes can adjust depending on who lodges the application, whether there are errors and whether the Land registry need to notify any third parties. Currently in the region of 80% of submission are fully addressed in less than three weeks but some can be subject to extensive delays. Registration occurs after the new owner has moved in to the premises so an expedited registration is not usually primary concern but if it is urgent that the the registration takes place urgently then you or your lawyers should contact the land registry and explain the circumstances.
I am employed by a long established estate agency in Hunstanton where we have witnessed a number of flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Hunstanton conveyancing solicitors. Please can you confirm whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Hunstanton Leasehold Conveyancing - Sample of Queries before Purchasing
-
Does the lease have in excess of 82 years unexpired? Where a Hunstanton lease has fewer than 80 years it will impact the salability of the property. Check with your lender that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will probably need a lease extension at some point and you need to have some idea of what this would cost. For most Hunstantonlease extensions you would be required to have been the owner of the property for 24 months in order to be eligible to extend the lease.