My wife and I intend to remortgage our apartment in Robin Hoods Bay with Nottingham. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is repossessed. I have two concerns (1) Is this form unique to the Nottingham conveyancing panel as he never had to sign this form when we purchased 3 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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.
I have recentlybeen informed that Wolstenholmes have closed. They conducted my conveyancing in Robin Hoods Bay for a purchase of a leasehold apartment 10 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The easiest method to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Robin Hoods Bay conveyancing specialists.
I'm buying my first flat in Robin Hoods Bay with a mortgage from Norwich and Peterborough Building Society. The developers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent suggested that I not reveal to my lawyer about this side-deal as it will adversely affect my mortgage with Norwich and Peterborough Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one near me in Robin Hoods Bay I like with a park and station nearby, however it's only got 51 remaining years left on the lease. There is not much else in Robin Hoods Bay suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan the shortness of the lease will be an issue. Discount the price 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 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
In scouring the internet for the phrase cheap conveyancing in Robin Hoods Bay it reveals numerous conveyancerslocally. With so much choice what is the best way to find the suitable property lawyer for the sale of my house?
The ideal way of finding a suitable conveyancer is via trusted referral, so seek the guidance of friends and family who have bought a property in Robin Hoods Bay or a respected estate agent or mortgage broker. Costs for conveyancing in Robin Hoods Bay vary, so it's advisable to secure a minimum of three fee estimates from different solicitors. Dont forget to clarify what costs in the quote includes.
I am employed by a busy estate agency in Robin Hoods Bay where we have witnessed a number of leasehold sales put at risk due to short leases. I have been given inconsistent advice from local Robin Hoods Bay conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can commence the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Robin Hoods Bay Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying
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It is important to be aware whether redecorating or some other significant cost is pending to be shared between the tenants and could well dramatically impact the level of the service fees or necessitate a specific payment. What is the name of the managing agents? Does the lease include onerous restrictions?