My wife and I swapping mortgage lender for our maisonette in Brymbo with Kent Reliance. 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 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 property is repossessed. I have a couple of questions (1) Is this form unique to the Kent Reliance conveyancing panel as he never had to sign this form when we purchased 3 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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.
I have been referred to a conveyancing solicitor in Brymbo. I I am struggling to find out if they are on the Leeds Building Society approved list of lawyers. Can you help?
You should phone your solicitor and ask them whether they can act for the lender. Alternatively please call Leeds Building Society who may be able to help.
What will a local search inform me concerning the house my wife and I buying in Brymbo?
Brymbo conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company for example Searchflow The local search plays an important part in many a Brymbo conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your new home. The search should reveal data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
How does conveyancing in Brymbo differ for newly converted properties?
Most buyers of new build property in Brymbo contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is finished. This is because builders in Brymbo tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Brymbo or who has acted in the same development.
I have just started marketing my garden flat in Brymbo. Conveyancing lawyers have not yet been instructed, however I have just had a half-yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as normal because all ground rent and maintenance invoices should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until 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. This will smooth the conveyancing process.
I am the registered owner of a ground floor flat in Brymbo, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Brymbo with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease expires on 21st October 2078
You have 52 years remaining on your lease the likely cost is going to be between £29,500 and £34,000 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.