My fiance and I are refinancing our apartment in Handforth with Coventry BS. 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. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this document specific to the Coventry BS conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this compromise 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 Coventry BS. This is solely used to protect Coventry BS 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 Coventry BS 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.
Completed the sale of my flat in Handforth last December but our buyer keeps texting me to say her solicitor is waiting to hear from myconveyancer. What should have happened now that I have sold?
After completion of your house sale your solicitor should forward the transfer deeds and all of the paperwork to the purchaser's lawyers. If applicable, your conveyancer must also evidence that the mortgage has been paid off to the buyers solicitors. There is unlikely to be post completion procedures specific conveyancing in Handforth.
I had intended to instruct a property lawyer in Handforth for our house move. Our financial adviser informed us that our bank Santander won't deal with them. Surely this is unduly restrictive?
Mortgage Companies in the main restrict either the category or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such criteria being that a firm must have two or more partners. As well as restricting the type of firm, a few banks have decided to limit the number of firms they allow to represent them. Be aware that Santander have no responsibility for the quality of advice provided by any member of Santander Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of conveyancing panels a few years ago even though there remains differing opinions concerning the extent of solicitor engagement in some of that fraud. Figures from the Land Registry indicate that plenty of law firms, including some in or near Handforth only perform a couple conveyances per annum.
2 months have elapsed following my purchase conveyancing in Handforth took place. I have checked the Land Registry website which shows that I paid £200,000 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 residence 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.
About to purchase a new build flat in Handforth. 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 conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Handforth
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a simple, no chain conveyancing. Handforth is where the house is located. Can you shed any light on this issue?
Flying freeholds in Handforth are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Handforth you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Handforth may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.