My partner and I intend to remortgage our maisonette in Silsoe with . 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. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this form unique to the conveyancing panel as he never had to sign this form when we bought 4 years ago (2) Does our son by signing this extinguish 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 . This is solely used to protect 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 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.
We had selected conveyancers with offices in Silsoe on the solicitor panel. They have just invoiced me a separate sum for dealing with the mortgage. Is this an additional conveyancing fee set by ?
Provided it is contained in their Terms of Engagement or estimate then yes your is entitled to levy a fee for this. The fee is not set by but by your Silsoe . Numerous firms on the panel will quote ’dealing with mortgage’ fee and others do not.
I have paid off my mortgage with . I assume I don't need a Silsoe on the panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the mortgage from the register. , and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where has sent the Land Registry the discharge electronically, and
- has instructed the Land Registry to do so
I have a mortgage with for my property in Silsoe. Conveyancing has been completed some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform ?
Your original mortgage agreement with will provide that you need their approval in advance of renting your property as this is likely to be a breach of ’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact directly. It should not be necessary to do this via a conveyancing panel firm.
I have been on the look out for a flat up to £245,000 and found one round the corner in Silsoe I like with a park and railway links nearby, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Silsoe for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
Is there anything unique about your site and alternative internet conveyancing brokers for conveyancing in Silsoe?
At this site secure a conveyancing quote from a Solicitor or Licensed Conveyancer that has a full understanding of the nuances of your conveyancing in Silsoe. Unlike many estate agents and brokerage sites we are not in the business of charging firms a commission if you select them for your conveyancing in Silsoe
To what extent are Silsoe conveyancing solicitors under an obligation to the Law Society to supply clear conveyancing figures?
Contained within the Solicitors Code of Conduct are prescriptive rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not intended as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, however, represent the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Silsoe or beyond.