My wife and I swapping mortgage lender for our penthouse in Swadlincote with Barclays. We have a son 19 who lives with us. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form 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 Barclays conveyancing panel as he never had to sign this form when we bought 5 years ago (2) Does our son by signing this compromise his entitlement 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 Barclays. This is solely used to protect Barclays 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 Barclays 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.
Various web forums that I have frequented warn that are the number one cause of stalling in Swadlincote house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Swadlincote.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one round the corner in Swadlincote I like with open areas and transport links nearby, however it's only got 49 years unexpired on the lease. There is not much else in Swadlincote suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage the shortness of the lease may be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
Is it possible to transfer to a new firm as I have to instruct one who is on the Nationwide Building Society conveyancing panel. I instructed a family conveyancing solicitor in Swadlincote five minutes from me but he is not approved by Nationwide Building Society
It would be our pleasure to assist you find a conveyancing solicitor in Swadlincote on the Nationwide Building Society panel. Please note that the property lawyers that we work with do not pay us a referral fee if you instruct them and are registered with the SRA who regulate all conveyancing solicitors in Swadlincote. In utilising search facility on this page, you can compare costs for conveyancing solicitors in Swadlincote and beyond.
We expect to complete the sale of our £375,000 apartment in Swadlincote in six days. The freeholder has quoted £348 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Swadlincote?
Swadlincote conveyancing on leasehold maisonettes normally requires the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be content to do so. They may levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the charge is technically not due. Reality however dictates that you have little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I acquired a 1 bedroom flat in Swadlincote, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Swadlincote with a long lease are worth £260,000. The average or mid-range amount of ground rent is £50 levied per year. The lease comes to an end on 21st October 2097
You have 75 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.
What tools are available to find a Swadlincote conveyancing solicitor on the lender conveyancing panel? I have a car and am prepared to travel up to twentykilometers to attend the conveyancer.
Feel free to make use of the find a conveyancing panel search on this website. Please choose the lender and your location, in this case Swadlincote and you will see a number of lawyer located nearest Swadlincote. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the bank solicitor panel.