My wife and I intend to remortgage our flat in Melbourn with UBS. We have a son 18 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this form unique to the UBS conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right 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 UBS. This is solely used to protect UBS 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 UBS 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.
We previously selected conveyancing lawyers with offices in Melbourn on the Barclays solicitor panel. They are now charging me a separate charge for dealing with the Barclays mortgage. Is this a supplemental conveyancing fee specified by Barclays?
Provided it is contained in their Terms and Conditions or estimate then yes your lawyer can charge a fee for this. The charge is not dictated by Barclays but by your Melbourn conveyancing practitioner. Some firms on the Barclays panel will quote ’dealing with mortgage’ fee and others do not.
I can not fathom if my bank requires a lease extension. I have called my Melbourn bank branch on numerous occasions and was reassured it wasn't a problem and they would lend. My Melbourn conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend based on their published requirements. Who do I believe?
The conveyancing practitioner has to follow the Council of Mortgage Lenders’ Handbook section two requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
After shopping around on the internet I have found a Melbourn solicitor having checked that they are on the Lloyds conveyancing panel. Does my lawyer arrange the survey of the property?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Melbourn surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Melbourn is where the house is located. What do you suggest?
Flying freeholds in Melbourn are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Melbourn you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Melbourn 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 residence.
Taking into account that I will soon part with hundreds of thousands of pounds on 3 bedroom house in Melbourn I would like to have a conversation with the solicitor about myhouse move before appointing the firm. Is this something that you can arrange?
This is something that we recommend - we would be delighted to talk to you we do not take any clients on without you speaking to the conveyancer who will be carrying out your conveyancing in Melbourn.There is no ‘factory style conveyancing’ - every client is unique individual, not a matter number. The law firms that we put you in touch with believe that the figure you are quoted for your conveyancing in Melbourn should be the figure that you end up paying.
I need to appoint a conveyancing solicitor for purchase conveyancing in Melbourn. I have stumble upon a site which seems to have the perfect solution If it is possible to get all the legals completed via web that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have just appointed agents to market my 2 bed apartment in Melbourn. Conveyancing is yet to be initiated, but I have recently had a quarterly maintenance charge demand – what should I do?
The sensible thing to do is clear the service charge as you normally would because all ground rent and service payments should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I bought a 1 bedroom flat in Melbourn, conveyancing formalities finalised May 2003. How much will my lease extension cost? Corresponding properties in Melbourn with an extended lease are worth £180,000. The ground rent is £65 invoiced every year. The lease expires on 21st October 2080
With only 59 years unexpired the likely cost is going to span between £20,900 and £24,200 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.