My husband and I intend to remortgage our apartment in Horsforth with Nottingham. We have a son approaching twenty who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of questions (1) Is this form unique to the Nottingham conveyancing panel as he never had to sign this form when we purchased 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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.
Why is leasehold purchase conveyancing in Horsforth is more expensive?
In summary, leasehold conveyancing in Horsforth and Leeds usually requires additional hours of investigation compared to freehold transactions. This includes reviewing the lease, corresponding with the landlord about the service of applicable notices, securing current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first granted.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Horsforth is the location of the property. Can you offer any guidance?
Flying freeholds in Horsforth are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Horsforth you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Horsforth may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
How easy is it to use the search app to locate a conveyancing lawyer in Horsforth on the approved list for my mortgage?
1st choose a mortgage company such as Barclays , Norwich and Peterborough Building Society or Aldermore then type in your preferred area such as Horsforth. Conveyancing firms in Horsforth and further afield should be listed.
I need to appoint a conveyancing solicitor for purchase conveyancing in Horsforth. I have discover a site which looks to be the perfect answer If there is a chance to get all this stuff completed via web that would be ideal. Should I be wary? What should out be looking out for?
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 see that you have a search directory identifying solicitors on the bank conveyancing panel. Do Horsforth conveyancing firms pay you a referral fee if I retain them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Horsforth.