My wife and I are refinancing our penthouse in Lytham St Annes with Kent Reliance. 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. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is repossessed. I have two questions (1) Is this form unique to the Kent Reliance conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Kent Reliance 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 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.
It has been 4 months since my purchase conveyancing in Lytham St Annes took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Lytham St Annes. 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.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Lytham St Annes
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. 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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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.
Should I be suspicious about estate agents that I am dealing with are suggesting a national conveyancing firm rather than a local Lytham St Annes conveyancing firm?
As with many service providers, often suggestions from family and friends can be worth their weight in gold. Yet there are numerous players in a conveyancing matter; estate agents, mortgage brokers and lenders might all put forward solicitors to appoint. On occasion these lawyers might be known to one of the organisations as being good in their field, but occasionally there behind the scenes financial incentive behind the recommendation. You have the right to appoint your preferred conveyancer. However, bear in mind that many lenders specify a panel list of solicitors you must use for the mortgage aspect of your transaction.
If all goes to plan we aim to complete the sale of our £275,000 maisonette in Lytham St Annes in six days. The managing agents has quoted £324 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Lytham St Annes?
Lytham St Annes conveyancing on leasehold maisonettes normally involves the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to assist. They are entitled to invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge levied by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little choice but to pay whatever is demanded if you want to complete the sale of your home.
I invested in buying a garden flat in Lytham St Annes, conveyancing having been completed August 2007. How much will my lease extension cost? Equivalent flats in Lytham St Annes with a long lease are worth £195,000. The ground rent is £45 charged once a year. The lease terminates on 21st October 2083
With only 62 years left to run we estimate the premium for your lease extension to span between £17,100 and £19,800 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
We are looking to purchase a repossessed property in Lytham St Annes and the vendor require completion inside 28 days. Can a conveyancer meet that timeframe? Would it be better to select a high street Lytham St Annes firm or an online conveyancer that professes to offer speedy conveyancing?
Attend your Lytham St Annes shopping parade. Pop in to a couple of solicitor’s offices and ask to talk to a conveyancing solicitor for an estimate. Set out your situation and seek a commitment on time frames. Choose the one that appears most trustworthy. You need to use a lawyer on the panel of property lawyers acceptable to your mortgage company.