I am in the throes of switching my current homeowner mortgage to a BTL Aldermore mortgage. I have been informed by my broker that I need a lawyer as part of the process. I got in contact with my previous Seven Sisters conveyancing solicitor who who did the conveyancing when I originally purchased the house. The fee calculation sent of just over five hundred pounds has shocked me as its a refinance than a sale or purchase.
The estimate fees are a tad high. If you you were to look around you could decrease the fees marginally by say a hundred pounds. That being said, assuming were satisfied with the conveyancing the firm offered you maycome to regret opting for an an unknown lawyer. Remember to enquire the conveyancer can represent Aldermore. Do employ our search tool to get a quote a Seven Sisters conveyancing firm on the Aldermore conveyancing panel, which can often include conveyancing solicitors in Seven Sisters.
My husband and I changing mortgage lender for our flat in Seven Sisters with TSB. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this document specific to the TSB conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this giving up 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 TSB. This is solely used to protect TSB 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 TSB 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.
Is there a reason why leasehold purchase conveyancing in Seven Sisters is more expensive?
In summary, leasehold conveyancing in Seven Sisters and elsewhere usually requires extra work compared to freehold conveyancing. This includes lease investigation, liaising with the landlord about the service of required notices, securing current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
My uncle passed away six months ago and as sole heir and executor I was left the property in Seven Sisters. The house had a relatively small loan left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this allowed?
Where you intend to refinance then RBS will insist on your using a conveyancer on the RBS 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 RBS 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 RBS mortgage is registered as a charge at the Land Registry.
I purchased a 4 bedroom Edwardian house in Seven Sisters. Conveyancing lawyer represented me and Nottingham Building Society. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold with the matching property. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Seven Sisters and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing lawyer who completed the work.
Given that I will soon part with over three hundred thousand on a terraced house in Seven Sisters I wish to talk to a lawyer about mytransaction prior to giving the go ahead to the firm. Is this something that you can arrange?
We could not agree more - we would be delighted to talk to you we do not take any clients on without you speaking to the solicitor due to be carrying out your conveyancing in Seven Sisters.There is no ‘factory style conveyancing’ - every client is an important person, not a file number. The solicitors that we put you in touch with believe that the fees you are quoted for residential conveyancing in Seven Sisters should be the figure that you end up paying.