Having been suggested to visit your web site we were going to use a conveyancing solicitor in Mersea Island found by you but stumbled across alternative estimates on the internet look cheaper – how come?
There are numerous conveyancing outfits marketing at first sight what seems to be extremely cheap conveyancing in Mersea Island. We suggest that you think long and hard about how important this transaction is to you that you are willing to take 'cheap' risks in relation to the standard of the legal work. Many of them highlight a low quote to tease you but plant supplemental costs in the fine print..
My partner and I intend to remortgage our penthouse in Mersea Island with Aldermore. We have a son 19 who lives with us. Our solicitor requested us to identify 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 forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Aldermore 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 Aldermore 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 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.
My uncle passed away six months ago and as sole heir and executor I was left the house in Mersea Island. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this possible?
Where you plan to re-mortgage then Yorkshire BS will require that you use a conveyancer on the Yorkshire BS 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 Yorkshire BS 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 Yorkshire BS mortgage is registered as a charge at the Land Registry.
I was pointed in your direction by a few selling agents in Mersea Island to choose a conveyancer on your site. What’s the financial upside for Estate Agents to offer your site over alternative conveyancing organisations?
We don’t offer any referral fee for sending work in our direction. We found it would be just too difficult to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
What are your top tips when it comes to finding a Mersea Island conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Mersea Island conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Mersea Island conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be helpful:
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How many lease extensions have they completed in Mersea Island in the last year? If they are not ALEP accredited then what is the reason?
I own a basement flat in Mersea Island, conveyancing was carried out in 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Mersea Island with over 90 years remaining are worth £195,000. The ground rent is £45 levied per year. The lease ends on 21st October 2084
You have 62 years remaining on your lease we estimate the premium for your lease extension to be between £17,100 and £19,800 plus costs.
The suggested premium range 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 due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
What can I do to find out who is the owner of a property in Mersea Island?
Provided the premises is registered with HM Land Registry, and you have sufficient specifics of the address of the property, you should be able to see details from the HMLR of the registered owner for a for less than a fiver.