My partner and I intend to remortgage our penthouse in Beckermet with Skipton. We have a son 18 who lives with us. Our solicitor has asked us to disclose 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 apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Skipton conveyancing panel as he did not need to sign this form when we remortgaged 3 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 Skipton. This is solely used to protect Skipton 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 Skipton 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're in Beckermet, First time buyers buying with a mortgage (lender is Coventry BS , and our lawyer is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
This question may be naive but I am new to the home moving as FTB of a two bedroom flat in Beckermet. Do I collect the keys to the premises on completion from my conveyancer? If this is the case, I will use a local conveyancing solicitor in Beckermet?
On the day of completion you will not be required to go to the conveyancers office in Beckermet. Conveyancing lawyers for you will electronically transfer the completion advance to the vendor’s conveyancers, and once they have received this, you will be called to receive the keys from the selling Agents and start moving into the property. This tends to happen early afternoon.
I'm the sole beneficiary of my late mum's will and I have everything in my name alone, including the house in Beckermet. The Beckermet property was put into my name in April. I want to move. I understand that there is a CML six month 'rule', meaning my proprietorship may be treated the same way as if I'd bought the house in April. Will no one buy the property for half a year?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How practical a view banks take of it, depend on the bank as this requirement is primarily there to pick up on subsales or the wholesaling and assigning of property.
I recently had an offer accepted on an apartment in Beckermet. My mortgage broker pressured me to appoint their solicitor. I paid an on account payment of £150. Soon after, the property lawyer called me to say that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when acquiring a property in Beckermet? or Apparently there is an ancient law that could mean that house owners living in a parish church boundary will be compelled to contribute towards repairs to the chancel within the church. Is this applicable for conveyancing in Beckermet?
Unless a prior purchase of the premises took place after 12 October 2013 you could take it that conveyancing practitioners conducting conveyancing in Beckermet to remain recommending a chancel search and or insurance against a claim.
four months have gone by following my purchase conveyancing in Beckermet completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
We are midway through purchasing a property in Beckermet. Conveyancing solicitor has phoned to say the property is "Leasehold". Will this likely impact our home loan valuation?
Beckermet conveyancing does not usually involve leasehold houses. The key consideration here is the remaining lease term and the ground rent. If it's 999 years with a nominal rent, it's virtually freehold, so it’s unlikely to affect the marketability too much.
At the other end of the spectrum, if it's, say, fifty five years it is bound to have a material impact on the saleability, and probably wouldn't be acceptable to the bank. The length of lease and ground rent will be specified in the lease to be supplied to your conveyancer.