My wife and I are refinancing our flat in Pevensey with Nationwide. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form 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 concerns (1) Is this form unique to the Nationwide conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this compromise his rights 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 the Pevensey conveyancing process what’s the number one tip you can give me concerning the legal transfer of property in Pevensey
You may not hear this from too many lawyers but conveyancing in Pevensey or throughout East Sussex is an adversarial process. Put another way, when it comes to conveyancing there exists plenty of opportunity for friction between you and other parties involved in the home moving process. For example, the vendor, selling agent and sometimes the lender. Appointing a lawyer for your conveyancing in Pevensey is a critical decision as your conveyancer is your adviser, and is the ONE person in the process whose role it is to act in your best interests and to protect you.
There is a definite ongoing adversarial element to conveyancing- someone has to be blamed for the process being so protracted. We recommend that you your first instinct should be to trust your conveyancer above all other players in the conveyancing process.
How does conveyancing in Pevensey differ for newly converted properties?
Most buyers of new build or newly converted property in Pevensey approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because builders in Pevensey tend to buy 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 conveyancing solicitors 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 Pevensey or who has acted in the same development.
Taking into account that I will soon part with hundreds of thousands of pounds on a garden flat in Pevensey I would like to talk to a lawyer concerning thehouse move prior to instructing the firm. Is this something that you can arrange?
We could not agree more - we would be pleased to talk to you we do not take any clients on without you speaking to the lawyer who will be doing your property ownership legalities in Pevensey.There is no ‘factory style conveyancing’ - each client is unique individual, not a file reference. The solicitors that we put you in touch with believe that the figure you are quoted for residential conveyancing in Pevensey should be the figure that you end up paying.
We're novice buyers - agreed a price, yet the estate agent advised that the vendor will only proceed if we instruct their recommended conveyancers as they want an ‘expedited deal’. My instinct tells me that we should use a local conveyancer with experience of conveyancing in Pevensey
We suspect that the seller is unaware of this ultimatum. Should the seller desire ‘a quick sale', turning down a genuine buyer is counter productive. Try to communicate with the vendors directly and make sure they comprehend that (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you intend to instruct your preferred Pevensey conveyancing solicitors - not the ones that will give their estate agent a commission or hit his conveyancing targets demanded by head office.
What is the distinction between surveying and conveyancing in Pevensey?
Conveyancing - in Pevensey or elsewhere - is the legal term given to transferring legal title of property from one person to another. It involves the investigation 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 a powerful reason for negotiating the purchase price down or asking the seller to remedy the problems prior to you move in.