My partner and I are refinancing our penthouse in Patcham with Nationwide. We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Nationwide conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
First, rest assured that your Nationwide 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 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 unfamiliar with conveyancing in Patcham what is the number one tip you can impart for the ownership transfer in Patcham
You may not hear this from too many lawyers but conveyancing in Patcham and elsewhere in East Sussex is an adversarial process. Put another way, when it comes to conveyancing there is an abundance of room for conflict between you and other parties involved in the home moving process. E.g., the vendor, property agent and sometimes the bank. Appointing a solicitor for your conveyancing in Patcham should not be taken lightly as your conveyancer is your adviser, and is the SOLE person in the process whose responsibility is to protect your legal interests and to keep you safe.
There is a worrying ongoing adversarial element to conveyancing- someone has to be blamed for the process taking so long. You your first instinct should be to trust your solicitor ahead of all other parties when it comes to the legal transfer of property.
The Patcham conveyancing firm that just started acting on my house acquisition in Patcham have suddenly closed. I chose them because I had to have a firm on the Nationwide conveyancing panel and my family Patcham lawyer was not. I paid them £170 on account. What do I do now?
If you have an estate agent involved then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Nationwide conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
I completed on my apartment on 3 August and my personal details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Patcham expressed confidence that it will be formalised in less than a month. Are transfers in Patcham particularly slow to register?
As far as conveyancing in Patcham is concerned, registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can differ according to the party submitting the application, whether it is in order and whether the Land registry have to notify any 3rd parties. Currently approximately three quarters of such applications are fully dealt with within two weeks but some can be subject to protracted hold-ups. Registration takes place once the buyer is living at the premises so 'speed' is not always an essential issue yet where there is a degree of urgency associated with the registration then you or your solicitor must contact the land registry and explain the circumstances.
In my capacity as executor for the will of my father I am disposing of a residence in Monmouth but live in Patcham. My solicitor (who is 300 miles from mehas requested that I execute a stat dec prior to completion. Can you recommend a conveyancing solicitor in Patcham to attest this legal document for me?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are located in Patcham
At last I have had an offer on an maisonette in Patcham agreed to, the seller does nevertheless have an associated purchase. The current proprietors have put an offer on somewhere, however it’s not yet tied up, and has viewings of other properties in the pipeline. I have selected a local conveyancing lawyer in Patcham. What should be my next step? At what point do I apply for the mortgage with Principality?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx £1k, then valuation, Patcham conveyancing search charges, etc). The first course of action is to check that your lawyer is on the Principality conveyancing panel. As to the subsequent stages this very much depends on the specifics of your transaction, desire for this property and on the state of the market. In a rising market many purchasers will apply for a home loan with Principality and pay for the valuation and only if it comes back ok would they request their conveyancing practitioner to press on with searches.