My wife and I intend to remortgage our apartment in Lydney with Nationwide. We have a son 19 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of concerns (1) Is this form unique to the Nationwide conveyancing panel as he never had to sign this form when we remortgaged 4 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.
As someone clueless as to the Lydney conveyancing process what is the number one tip you can give me concerning the legal transfer of property in Lydney
You may not hear this from too many lawyers but conveyancing in Lydney and elsewhere in Gloucestershire is often a confrontational experience. Put another way, when it comes to conveyancing there is plenty of opportunity for confrontation between you and other parties involved in the legal transfer of property. E.g., the vendor, selling agent and on occasion the lender. Selecting a lawyer for your conveyancing in Lydney should not be taken lightly as your conveyancer is your adviser, and is the SOLE person in the transaction whose responsibility is to look after your best interests and to protect you.
Every so often a potential adversary will try and sway you that it is in your interests to do things their way. For instance, the selling agent may claim to be helping by claiming that your lawyer is wrong. Or your mortgage broker may try to convince you to do take action that is contrary to your solicitors recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when acquiring a property in Lydney?
Unless a prior acquisition of the premises took place after 12 October 2013 you may take it that lawyers carrying out conveyancing in Lydney to remain recommending a chancel search and or chancel repair liability policy.
Me and my brother have a 4 bedroom Georgian house in Lydney. Conveyancing practitioner acted for me and Britannia. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Lydney and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing lawyer who conducted the work.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Lydney is where the house is located. Is there any advice you can give?
Flying freeholds in Lydney are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lydney you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lydney 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.
In scouring the web for the term cheap conveyancing in Lydney it brings up numerous solicitorslocally. With so much choice what is the best way to find the right solicitor for the sale of my house?
The ideal method of finding a suitable conveyancer is through a trusted recommendation, so enquire of friends and those you trust who have bought a property in Lydney or a local estate agent or mortgage broker. Costs for conveyancing in Lydney vary, so it's sensible to request a minimum of four fee estimates from different property lawyers. Be sure to seek confirmation that the fees are fixed.