My wife and I changing mortgage lender for our apartment in Hamworthy with Nationwide. We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is repossessed. I have two concerns (1) Is this document specific to the Nationwide conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right 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 Nationwide. This is solely used to protect Nationwide 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 Nationwide 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 do I have to pay up front for my conveyancing in Hamworthy?
Where you are retaining lawyers for conveyancing in Hamworthy your solicitor will ask you to provide them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. When the deposit is payable against the purchase price then this should be needed shortly prior to contracts are exchanged. The final balance that is needed should be transferred shortly before completion.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would much rather instruct a Hamworthy based conveyancing firm?
Do check but the chances are that allocate you one of their panel lawyers if you take up the "fee-free" deal. Call the bank to see if they offer you a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Hamworthy.
I have been on the look out for a ground for flat up to £235,500 and found one near me in Hamworthy I like with a park and transport links nearby, however it's only got 51 years on the lease. I can't really find anything else in Hamworthy suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
What makes your site different to other web based conveyancing solicitors for conveyancing in Hamworthy?
At this site obtain an accurate quote from a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Hamworthy. Unlike many estate agents and brokerage sites we do not have kick-back arrangements with solicitors. Many agents and online brokers 'recommend' the firm paying the most kickback, not the best value conveyancing in Hamworthy
I'm selling a house in Hamworthy. I can find my conveyancer's company on the CLC list, but I can't find my lawyer's name as listed on the regulator's website. Is this a big problem?
Not all staff in the practice must be listed by the regulator. As long there is someone qualified to 'oversee' the work, the actual day-to-day activity can be undertaken by unqualified staff.