I am looking for value for money conveyancer. Should I go for for a web based conveyancer as opposed to a family Berkeley conveyancing lawyer?
Existing third party connections is an important consideration when choosing conveyancing lawyers. Berkeley conveyancers enjoy connections with mortgage brokers and Berkeley, local authorities, valuers and other law firms meaning the whole process is going to be much more straightforward for you. Having a well rounded knowledge of the local area is also a plus .
My husband and I are refinancing our flat in Berkeley with Nationwide. We have a son 18 who lives at home. Our solicitor has asked us to disclose 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 concerns (1) Is this form unique to the Nationwide conveyancing panel as he never had to sign this form when we purchased 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 Nationwide. This is solely used to protect Nationwide 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 Nationwide 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.
My Solicitor in Berkeley is not on the Aldermore Solicitor Panel. Is it possible for me to continue with my family solicitor even though they are excluded from the Aldermore approved list?
The limited options open to you here include:
- Carry on with your existing Berkeley lawyers but Aldermore will need to instruct a lawyer on their panel. This will result in additional overall conveyancing charges and cause delays.
- Choose an alternative lawyer to to deal with the purchase, remembering to check they are on the Aldermore panel
I am looking for a leasehold apartment up to £195,000 and found one near me in Berkeley I like with open areas and transport links nearby, the downside is that it's only got 51 years on the lease. There is not much else in Berkeley for this price, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan that many years will be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I only have Fifty years remaining on my flat in Berkeley. I now want to extend my lease but my landlord is can not be found. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. In some cases a specialist may be useful to carry out a search and prepare a report to be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Berkeley.
I bought a 2 bed flat in Berkeley, conveyancing having been completed 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Berkeley with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 yearly. The lease ceases on 21st October 2086
With only 61 years left to run the likely cost is going to be between £18,100 and £20,800 as well as 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 supply a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.