My wife and I intend to remortgage our maisonette in Hythe with Aldermore. We have a son approaching twenty 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, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Aldermore conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this extinguish 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 Aldermore. This is solely used to protect Aldermore 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 Aldermore 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.
Is it necessary during the course of the conveyancing process to attend the offices of the solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Hythe so that I can pop in to their offices when needed.
Nowadays conveyancing panel lawyers for lenders conduct their communications via Royal Mail, internet or over the phone. This enables them to undertake the legal work for your home move no matter where you live in England or Wales. Nevertheless you should see if you can still book an appointment to visit conveyancing lawyer if needed.
Should my solicitor be making enquiries concerning flooding as part of the conveyancing in Hythe.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Hythe. Plenty of people will buy a house in Hythe, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, however there are a various checks that can be undertaken by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in Hythe. The standard completed inquiry forms supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the owner to determine whether the premises has suffered from flooding. In the event that flooding has previously occurred and is not notified by the seller, then a purchaser could bring a claim for damages stemming from an inaccurate answer. A purchaser’s lawyers should also carry out an enviro search. This should higlight if there is a recorded flood risk. If so, further inquiries should be carried out.
Despite weeks of looking the Title Certificate and documents to my property are lost. The lawyers who dealt with the conveyancing in Hythe 5 years ago are no longer around. What are my next steps?
Nowadays there are duplicates made of almost everything, and your solicitor will be aware precisely where to locate all the suitable documentation so you may buy or dispose of your property without a hitch. Where copies can’t be found, your conveyancer may be able to put in place insurance or indemnities protecting you against future claims on the premises.
Am I right to be wary that brokers that I am dealing with are recommending an online conveyancing firm as opposed to a local Hythe conveyancing firm?
As with many service providers, often suggestions from connections can be extremely useful or valuable. But there are lots of parties with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and lenders might all recommend lawyers to select. Sometimes the lawyers might be known to one of the organisations as experts in their field, but sometimes there behind the scenes financial incentive behind the endorsement. You are free to select your preferred conveyancer. However, bear in mind that the majority of banks operate an approved list of lawyers you are obliged to use for the mortgage related work in your house move.
I own a leasehold house in Hythe. Conveyancing and Leeds Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Hythe who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Hythe conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a garden flat in Hythe, conveyancing formalities finalised 6 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Hythe with an extended lease are worth £186,000. The ground rent is £55 per annum. The lease finishes on 21st October 2072
With just 52 years left to run the likely cost is going to be between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.