My wife and I intend to remortgage our apartment in Silsoe with HSBC. We have a son 18 who lives with us. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of questions (1) Is this document specific to the HSBC conveyancing panel as he did not need to sign this form when we bought 3 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 HSBC 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 HSBC. This is solely used to protect HSBC 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 HSBC 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 search tool that I can use to discover of the solicitor carrying out my conveyancing in Silsoe is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Accord Mortgages Ltd thus paying £187.00 plus VAT in additional conveyancing bill.
Please do take advantage of the search tool on this site. Pick the mortgage company and type ‘Silsoe’ or your location and you will see numerous conveyancers located in Silsoe or nearest you.
Due to the guidance of my in-laws I had a survey completed on a property in Silsoe ahead of retaining solicitors. I have been advised that there is a flying freehold aspect to the property. My surveyor has said that some lenders will refuse to grant a loan on this type of home.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. If you contact us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Silsoe. Conveyancing may be slightly more expensive based on your lender's requirements.
What does commercial conveyancing in Silsoe cover?
Silsoe conveyancing for business premises incorporates a wide array of guidance, offered by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I only have Sixty One years left on my lease in Silsoe. I am keen to get lease extension but my landlord is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to prove that you have made all reasonable attempts to find the landlord. For most situations a specialist would be useful to conduct investigations and to produce a report to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Silsoe.
I invested in buying a 2 bed flat in Silsoe, conveyancing was carried out 3 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Silsoe with an extended lease are worth £202,000. The ground rent is £60 levied per year. The lease finishes on 21st October 2079
With 57 years remaining on your lease we estimate the price of your lease extension to be between £28,500 and £33,000 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
I have just had an offer accepted on an apartment in Silsoe and the mortgage adviser that we are dealing with suggested his conveyancing practitioner. They quoted a thousand pounds plus VAT and 3rd party costs. Does this sound expensive?
Don't just go on a single estimate. One should obtain like-for-like quotes for your conveyancing in Silsoe. Then choose one that you trust and crucially, is on the approved panel of the lender that you are sourcing your mortgage from.