My partner and I intend to remortgage our penthouse in Polperro with Aldermore. We have a son approaching twenty who lives with us. 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, giving up any rights in the event that the property is repossessed. 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 remortgaged 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 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.
We note that you have a post code search directory identifying solicitors on the Santander conveyancing panel. Do firms pay you a commission if I retain them for our own conveyancing in Polperro?
We are a listing service only for law firms wishing to communicate if they are on the Santander conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Polperro.
The deeds to our house can not be found. The solicitors who dealt with the conveyancing in Polperro 10 years ago are no longer around. What are my next steps?
In today’s world there are duplicates made of almost everything, and your solicitor will know exactly where to look for all the suitable documentation so you may buy or dispose of your property without any difficulty. If copies can’t be found, your lawyer may be able to arrange cover in the form of insurance or indemnities protecting you against future claims on your premises.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one near me in Polperro I like with a park and railway links nearby, the downside is that it only has 51 years on the lease. There is not much else in Polperro suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the remaining unexpired lease term may be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
I wish to rent out my leasehold apartment in Polperro. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your last Polperro conveyancing lawyer is not available you can check your lease to see if you are permitted to let out the premises. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you must obtain permission via your landlord or some other party prior to subletting. This means you not allowed to sublet in the absence of first obtaining consent. Such consent is not allowed to be unreasonably withheld. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.
I invested in buying a studio flat in Polperro, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Polperro with a long lease are worth £206,000. The ground rent is £45 invoiced annually. The lease terminates on 21st October 2091
With only 66 years remaining on your lease the likely cost is going to span between £12,400 and £14,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
I have been searching for Polperro conveyancing quotes online. Can I be confident that all the Polperro practices that are listed on your site are on the mortgage company conveyancing panel?
The law firms listed on our site have advised us that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the lender panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Polperro conveyancing solicitor being on the bank conveyancing panel is incorrect.