My wife and I intend to remortgage our maisonette in Falconwood with Co-operative. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 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 property is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Co-operative conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) Does our son by signing this compromise 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 Co-operative. This is solely used to protect Co-operative 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 Co-operative 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.
At what point will exchange of contracts take place for sale conveyancing in Falconwood and am I required to attend the lawyers branch?
If you are round the corner to our conveyancing solicitors in Falconwood you are welcome to attend to sign documents. However, the firms we recommend provide countrywide coverage for conveyancing and provide just as diligent and professional a job for you when communicating with you digitally. The signing of the purchase agreement is not the critical part. Signing on the dotted line is necessary for the firm to officially exchange when the time is right, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Falconwood)to be in the office at the appropriate time.
My house in Falconwood is up for sale and I have accepted an offer. Will my solicitor have to be on the Leeds Building Society conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
Do commercial conveyancing searches reveal proposed roadworks that could impact a commercial site in Falconwood?
Many commercial conveyancing solicitors in Falconwood will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Falconwood. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Falconwood.
For each commercial conveyancing transaction in Falconwood it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Falconwood commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Falconwood.
Have completed on a a terraced house in Falconwood , What is the estimated time for the Land Registry to record my title? My Falconwood conveyancing solicitor works at snail pace, so I want to be sure that my name is recorded.
There is nothing unique about conveyancing in Falconwood registration formalities. Rather than based on location, timescales can adjust depending on who lodges the application, whether there are errors and whether the Land registry need to notify any interested parties. At present approximately three quarters of such applications are fully addressed within 12 days but occasionally there can be protracted delays. Registration takes place once the purchaser is living at the property so an expedited registration is not typically primary concern but if there is a degree of urgency associated with the registration then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
Should I be concerned about third parties that I am dealing with are encouraging me to use a national conveyancing firm rather than a High Street Falconwood conveyancing practice?
As is the case with many service providers, often input from connections can be extremely useful or valuable. But there are many players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all recommend conveyancers to use. Sometimes the conveyancers might be known to one of the organisations as experts in their field, but sometimes there may be a financial incentive behind the recommendation. You are free to appoint your own lawyer. Don't forget that most lenders operate an approved list of conveyancers you have to use for the lender aspect of your conveyancing.