My husband and I are refinancing our maisonette in Highcliffe with Yorkshire BS. We have a son approaching twenty who lives at home. Our solicitor requested us to identify 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, giving up any rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this form unique to the Yorkshire BS conveyancing panel as he never had to sign this form when we bought 4 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Yorkshire BS 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 Yorkshire BS. This is solely used to protect Yorkshire 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 Yorkshire 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.
We are selling our apartment in Highcliffe. Does my conveyancer need to be on the Nationwide conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide 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 conditions fairly frequently at the moment.
How does conveyancing in Highcliffe differ for new build properties?
Most buyers of new build residence in Highcliffe come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because developers in Highcliffe tend to acquire 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 used to new build conveyancing in Highcliffe or who has acted in the same development.
My step-father has urged me to instruct his lawyers for conveyancing in Highcliffe. Should I use them?
There are no two ways about it the ideal way to find a conveyancing practitioner is to seek referrals from friends or family who have actually previously instructed the solicitor you're considering.
I own a leasehold house in Highcliffe. Conveyancing and Nationwide Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Highcliffe who acted for me is not around. Do I pay?
First contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Highcliffe conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Highcliffe Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
How much is the ground rent and service charge? It would be sensible to investigate if there is anything that is prohibited in the lease. For example it is very common in Highcliffe leases that pets are not permitted in in a block in Highcliffe. If you love the apartmentin Highcliffe yet your dog is not allowed to make the move with you then you have a very difficult determination. Who manages the building?
My lawyers in Highcliffe have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the lender. Is it case that being on the lender conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.