My fiance and I intend to remortgage our maisonette in Tintern with RBS. We have a son 18 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this document specific to the RBS conveyancing panel as he did not need to sign this form when we purchased 5 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 RBS. This is solely used to protect RBS 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 RBS 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 it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Tintern so that I can pop in to their offices if required.
Whereas this was necessary ten years ago, the vast majority mortgage companies no longer need their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to provide identification documents and there are still manifest advantages to instructing a local practitioner, in your situation a conveyancing solicitor in Tintern.
Despite weeks of looking the Title Certificate and documents to our house are lost. The solicitors who conducted the conveyancing in Tintern 4 years ago have long since closed. What are my next steps?
Assuming the title is registered the details of your proprietorship will be recorded by HMLR under a Title Number. It is easy to carry out a search at the Land Registry, locate your property and order up to date copies of the property title for less than a fiver. Where the title is Leasehold then the Land Registry will also normally retain a file copy of the Registered Lease and again, a copy can be obtained for a small fee.
I need to find a conveyancing solicitor for purchase conveyancing in Tintern. I've chance upon a web site which appears to be the perfect answer If there is a chance to get all this stuff done via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have just appointed agents to market my ground floor flat in Tintern. Conveyancing has not commenced, but I have just received a half-yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as you normally would because all rents and maintenance charges should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a 1st floor flat in Tintern, conveyancing having been completed in 1999. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Tintern with over 90 years remaining are worth £227,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2096
With only 72 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
My sister purchased her house in Tintern in 2007. She has been married, divorced and has recently remarried. She intends to sell the house next summer. I suspect that she will simply be asked to supply copies of her marriage papers to the conveyancing practitioner but she is worried it will hold up the house sale. Is it worth updating the title details for the house?
It is not absolutely necessary to update the register as long as you have the evidence required to demonstrate how the change of name resulted.
The buyer’s solicitor should check the title information and ask for evidence to prove the change of name for instance marriage documentation.