My partner and I changing mortgage lender for our penthouse in Nuthall with RBS. We have a son 19 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 flat is forfeited by the lender. I have a couple of questions (1) Is this document specific to the RBS conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your RBS 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 RBS. This is solely used to protect RBS 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 RBS 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.
I have a decision in principle. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to use their panel lawyer as I would prefer to instruct a high street conveyancing solicitor in Nuthall?
You should check but the chances are that give you one of their panel lawyers should you take up the "fee-free" incentive. Speak to the bank to determine if they make available a monetary alternative. Some lenders have previously offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor near Nuthall.
Is it necessary to pay for insurance to address the risk of chancel repairs when purchasing a property in Nuthall?
Unless a previous purchase of the property completed post 12 October 2013 you can assume that solicitors carrying out conveyancing in Nuthall to remain encouraging a chancel search and or chancel repair liability insurance.
I have recentlybecome aware that Stirling Law have closed. They conducted my conveyancing in Nuthall for a purchase of a leasehold apartment 9 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The quickest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Nuthall conveyancing specialists.
Over the last few months I have been searching for a flat up to £245,000 and found one close by in Nuthall I like with a park and transport links nearby, however it's only got 49 years unexpired on the lease. There is not much else in Nuthall in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan that many years may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
Am I right to be suspicious by estate agents that I am dealing with are suggesting a national conveyancing firm rather than a local Nuthall conveyancing firm?
As is the case with many professional services, often recommendations from relatives can be worth their weight in gold. But there are numerous people with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all suggest solicitors to appoint. On occasion these lawyers might be known to one of the organisations as one of the best in their field, but sometimes there exists a commercial relationship behind the recommendation. You are at liberty to appoint your own lawyer. You need to be aware that many lenders operate an approved list of law firms you must use for the lender aspect of your home move.