My partner and I changing mortgage lender for our apartment in Glastonbury with Virgin Money. We have a son 18 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this document specific to the Virgin Money conveyancing panel as he never had to sign this form when we purchased 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 Virgin Money 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 Virgin Money. This is solely used to protect Virgin Money 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 Virgin Money 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 there a reason why leasehold purchase conveyancing in Glastonbury is more expensive?
Glastonbury leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Just had an offer accepted on a new build apartment in Glastonbury. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Glastonbury
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Is it possible to switch conveyancer as I have to choose a firm on the Nationwide Building Society conveyancing panel. I hired a high street conveyancing solicitor in Glastonbury round the corner but she is not accepted by Nationwide Building Society
We will our best to assist in finding you a conveyancing solicitor in Glastonbury on the Nationwide Building Society panel. Please note that the property lawyers that we list do not pay us a referral fee if you instruct them and are registered with the SRA who regulate all conveyancing solicitors in Glastonbury. In making use of the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Glastonbury.
In sourcing the internet for the term cheap conveyancing in Glastonbury it shows results of many solicitorsin the vicinity. How do I determine which is the right solicitor for purchase transaction?
The ideal way of finding a suitable conveyancer is via trusted referral, so seek the guidance of friends and relatives who have bought a property in Glastonbury or a reputable estate agent or mortgage broker. Costs for conveyancing in Glastonbury vary, so it's a good idea to obtain a minimum of four quotes from different conveyancers. Dont forget to clarify that the charges are guaranteed not to escalate.
We have today had a bid accepted on our 1st house in Glastonbury, and are now looking to get solicitors appointed. I have made use of the various rating based websites and the quotes are from all over the country. Is it important to have a Glastonbury conveyancing practitioner local to the prospective property? I am willing to do everything electronically, but I guess at some point we may need to visit the conveyancing practitioner's office to sign documents?
The conveyancing practitioner does not need to be in Glastonbury, but opting for local means that you have the option to go in if needed, for instance, if a signature is immediately necessary. Also, a Glastonbury solicitor have established relationships with local agents and (if the vendor has instructed a local property lawyer) with them, which should help smooth the process.