My fiance and I intend to remortgage our maisonette in Sandy with Bank of Ireland. We have a son approaching twenty 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 apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the Bank of Ireland conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this compromise his rights 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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.
When it comes to mortgage companies such as Coventry BS, do Sandy property lawyers face a yearly amount to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
About to purchase flat in Sandy. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Sandy property lawyer is on the Nationwide conveyancing panel.
My offer was accepted on a house in Sandy on 3/12/2025, valuation was booked five days later, received a clean bill of health. Solicitor appointed, so all that was missing was my mortgage offer. Having made daily calls to Bank of Ireland and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Bank of Ireland conveyancing panel. Can the lender hold off the offer?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Bank of Ireland to deal with your lawyer's application to be on the Bank of Ireland conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Sandy differ for newly converted properties?
Most buyers of new build or newly converted property in Sandy come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Sandy typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Sandy or who has acted in the same development.
I have been on the look out for a ground for flat up to £195,000 and identified one round the corner in Sandy I like with a park and railway links in the vicinity, the downside is that it only has 52 remaining years left on the lease. There is not much else in Sandy suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage the shortness of the lease may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
Given that I am about to part with 450k on 3 bedroom house in Sandy I wish to talk to a lawyer regarding theconveyancing prior to appointing the firm. Is this something that you can arrange?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you speaking to the conveyancer who will be doing your conveyancing in Sandy.There is no ‘factory style conveyancing’ - each client is unique individual, not a case reference. The solicitors that we put you in touch with believe that the fees you are provided with for residential conveyancing in Sandy should be the amount on the final invoice that you are charged.
I am a negotiator for a busy estate agency in Sandy where we have experienced a number of flat sales put at risk due to short leases. I have been given contradictory information from local Sandy conveyancing firms. Can you confirm whether the owner of a flat can instigate 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as 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 purchaser.
Leasehold Conveyancing in Sandy - Examples of Queries Prior to Purchasing
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Please note if it is no more than 80 years it will have adverse implications on the marketability of the apartment. It is worth checking with your bank that they are content with the length of the lease. Leases with less than 80 years remaining means that you will probably need a lease extension at some point and it is worth discovering how much this will be. Remember, in most cases you would be be obliged to have been the owner of the residence for a couple of years in order to be entitled to exercise a lease extension. The best form of lease arrangement is a share of the freehold. In this scenario the tenants enjoy being in charge if their destiny and even though a managing agent is frequently employed if the building is bigger than a house conversion, the managing agent is directed by the tenants. Is the freehold reversion owned jointly by the leaseholders?