My fiance and I are refinancing our maisonette in Downham with Coventry BS. 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. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this document specific to the Coventry BS conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Coventry BS conveyancing panel solicitor is doing the right thing 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 Coventry BS. This is solely used to protect Coventry BS 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 Coventry BS 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.
Do I need 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 Downham so that I can pop in to their offices if required.
Nowadays approved lawyers for mortgage companies conduct their communications via the post, internet or over the phone. This means that they can undertake the conveyancing transaction regardless of where you live in England or Wales. However you should check if you have the option of attending the offices of your conveyancing lawyer if needed.
We are buying a 4 bedroom semi-detached house in Downham. The intention is to carry out an extension to the side at the property.Will legal conveyancing on the property involve checks to ascertain if these works are allowed?
Your solicitor will review the registered title as conveyancing in Downham will occasionally reveal restrictions in the title documents which prevent categories of alterations or need the consent of a 3rd party. Certain works call for local authority planning consent and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor before you commit yourself to a purchase.
Two weeks ago we had a mortgage agreed in principle with Coventry BS. Downham conveyancing solicitors were instructed. What is the average time that one could expect to receive a mortgage offer from Coventry BS?
Some lenders take longer than others. Have Coventry BS conducted the valuation? Have you informed Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Clydesdale have agreed my mortgage in principle, my bid on a apartment in Downham has been agreed to, what are the next steps?
Your property agent will need to be informed of your property lawyer's details (be sure the conveyancers are on the lender’s panel). Contact Clydesdale or your financial adviser and complete any outstanding paperwork. Clydesdale will sellect a valuer who will get in touch with the selling agent or owners to schedule an appointment. Once carried out (assuming no problems) it takes on average a fortnight to get a mortgage offer. Clydesdale will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Downham.
My colleague suggested that where I am buying in Downham I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Downham conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Downham around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Downham Education with maps and statistics, Local Amenities and other useful information about Downham.
How does conveyancing in Downham differ for newly converted properties?
Most buyers of new build premises in Downham contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is completed. This is because new home sellers in Downham usually buy the real estate, 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 property lawyers 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 accustomed to new build conveyancing in Downham or who has acted in the same development.
What type of property do your Downham conveyancing estimates apply to?
The quotes supplied are only applicable to standard domestic homes in England & Wales. Where you have any different needs for instance industrial or agricultural land or commercial conveyancing in Downham you should telephone us to discuss this further .