My partner and I changing mortgage lender for our penthouse in Birchgrove with Leeds Building Society. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is repossessed. I have two concerns (1) Is this form unique to the Leeds Building Society conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this giving up his entitlement 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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.
Is it necessary during the course of the conveyancing process to pop into the offices of the solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Birchgrove so that I can attend their offices if required.
As opposed to twenty years ago, most mortgage companies no longer need their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to hand over ID documents and there are still manifest advantages to choosing a locally based ayer, in your case a conveyancing solicitor in Birchgrove.
We previously chose conveyancing lawyers locally in Birchgrove on the Leeds Building Society solicitor approved list. They are now charging me a supplemental amount for dealing with the Leeds Building Society mortgage. Is this an additional conveyancing fee specified by Leeds Building Society?
Provided it is contained in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to charge a fee for this. The charge is not dictated by Leeds Building Society but by your Birchgrove solicitor. Some firms on the Leeds Building Society panel will levy ’dealing with mortgage’ fee but plenty of practices include it on their overall fee.
Two weeks ago we had a mortgage agreed in principle with Bank of Ireland. Birchgrove conveyancing solicitors have been selected. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
There is no definitive answer here. Have Bank of Ireland completed the survey? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am currently in the process of buying my council flat in Birchgrove. I have a mortgage agreed with HSBC. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
How does conveyancing in Birchgrove differ for newly converted properties?
Most buyers of new build or newly converted property in Birchgrove contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because house builders in Birchgrove typically 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 conveyancers 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 Birchgrove or who has acted in the same development.
I am looking to sell my home. My former conveyancers have shut. It would be helpful to have a recommendation of a conveyancing firm. Im based in Birchgrove if that affects matters.
Please use our search tool to help you find a solicitor for your conveyancing in Birchgrove. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
18 days into purchasing a house in Birchgrove. Conveyancing lawyer has called to say the title is "Leasehold". Will this likely impact our mortgage valuation?
Birchgrove conveyancing does not normally involve leasehold houses. The crucial factor here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's virtually freehold, so it shouldn't impact the value significantly.
At the other end of the spectrum, if it's, say, fifty five years it is bound to have a significant impact on the value, and most likely wouldn't be acceptable to the mortgage company. The remaining lease term and ground rent will be set out in the lease provided to your lawyer.