My partner’s sister is a property lawyer. I am hopeful that I'll be able to get friends and family rates for conveyancing, However if that does not come through, what kind of costs should I be expecting for conveyancing in South Petherton and Lambrook?
It’s advisable to get multiple conveyancing quotes. Do use our comparison tool on this page. The quotes seem to vary but service levels do are distinct between conveyancers as is the case with the vast majority of professional services.
My partner and I intend to remortgage our maisonette in South Petherton and Lambrook with TSB. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have two questions (1) Is this form unique to the TSB conveyancing panel as he never had to sign this form when we remortgaged 4 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 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.
Can your site be used to find a Conveyancing solicitor in South Petherton and Lambrook even if I’m not buying or disposing of a house, for instance where I wish to acquire a shop in South Petherton and Lambrook with a mortgage from Nationwide Building Society?
Our comparison service is mainly utilised to select domestic conveyancing solicitors in South Petherton and Lambrook but we have set out towards the end of this page a few South Petherton and Lambrook commercial conveyancing firms. You should enquire with the firm directly to see if they are also authorised to represent Nationwide Building Society
I moved into my apartment on 16 January and the transaction details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in South Petherton and Lambrook expressed confidence that it should be registered inside ten days. Are titles in South Petherton and Lambrook uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in South Petherton and Lambrook registration formalities. As opposed to being determined by geographic area, timeframes can differ depending on who lodges the application, whether it is in order and if the Land registry need to notify any other parties. Currently approximately 80% of submission are completed within two weeks but occasionally there can be longer hold-ups. Historically registration occurs after the new owner is living at the premises thus registration formalities is not typically an essential issue yet where it is urgent that the the registration takes place urgently then you or your lawyers could speak with the land registry and explain the circumstances.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. South Petherton and Lambrook is the location of the property. Can you offer any opinion?
Flying freeholds in South Petherton and Lambrook are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in South Petherton and Lambrook you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Petherton and Lambrook may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am employed by a reputable estate agent office in South Petherton and Lambrook where we have experienced a number of flat sales jeopardised as a result of short leases. I have received contradictory information from local South Petherton and Lambrook conveyancing solicitors. Can you clarify whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease 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 proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is 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.
I bought a split level flat in South Petherton and Lambrook, conveyancing formalities finalised in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in South Petherton and Lambrook with over 90 years remaining are worth £165,000. The ground rent is £50 levied per year. The lease terminates on 21st October 2101
With 77 years remaining on your lease we estimate the premium for your lease extension to range between £7,600 and £8,800 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.