My fiance and I intend to remortgage our apartment in Niton with Leeds Building Society. We have a son 19 who lives at home. Our solicitor has asked us to disclose 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 property is repossessed. I have two questions (1) Is this form unique to the Leeds Building Society conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) Does our son by signing this extinguish his rights 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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're in Niton, First time buyers buying with a mortgage (lender is Kent Reliance , and our lawyer is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I own a semi-detached Edwardian house in Niton. Conveyancing solicitor represented me and Norwich and Peterborough Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold with the exact same property. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for 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 Niton and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with your conveyancing practitioner who carried out the work.
Due to the encouragement of my in-laws I had a survey completed on a property in Niton in advance of appointing conveyancers. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some mortgage companies may not issue a mortgage on a flying freehold property.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Niton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Niton to see if the conveyancing costs will increase in light of this.
We're novice buyers - agreed a price, yet the selling agent informed us that the seller will only go ahead if we instruct the agent's recommended conveyancers as they want a ‘quick sale’. We would rather use a local solicitor with experience of conveyancing in Niton
We suspect that the seller is unaware of this ultimatum. Should the vendor require ‘a quick sale', turning down a genuine buyer is going to damage their objectives. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you intend to instruct your preferred Niton conveyancing lawyers - not the ones that will provide the negotiator at the agency a referral fee or meet his conveyancing thresholds demanded by senior management.
What is the difference between surveying and conveyancing in Niton?
Conveyancing - in Niton or anywhere in England and Wales - is the process of legally transferring legal title of property from one person to another. It therefore includes the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are intending to buy and will help you discover the condition of the building and, if there are problems, give you leverage for negotiating the purchase price down or asking the seller to remedy the problems before you complete your move.