My wife and I changing mortgage lender for our flat in South Woodham Ferrers with UBS. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is repossessed. I have two questions (1) Is this document specific to the UBS conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this giving up 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 UBS. This is solely used to protect UBS 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 UBS 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 hope to to buy with Coventry BS. I dropped in a couple of high street solicitors yet am struggling to find a South Woodham Ferrers conveyancing firm on the Coventry BS panel. Please you help?
Feel free to take advantage of the find a conveyancing panel solicitor tool on this page. Please choose the building society and type South Woodham Ferrers or your location and you will see a number of lawyer located in South Woodham Ferrers or by proximity to you.
A relative informed me that in purchasing a property in South Woodham Ferrers there could be a number of restrictions prohibiting external alterations to a property. Is this right?
There are anumerous of properties in South Woodham Ferrers which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in South Woodham Ferrers should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to lenders such as Skipton, do South Woodham Ferrers lawyers incur a fee to be on the conveyancing panel?
We are not aware of any bank fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
We have a mortgage agreed in principle with Principality. South Woodham Ferrers conveyancing practitioners are selected. What is the average time that one could expect to receive a mortgage offer from Principality?
There is no definitive answer here. Have Principality conducted the survey? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. South Woodham Ferrers is where the house is located. Is there any guidance you can impart?
Flying freeholds in South Woodham Ferrers are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside South Woodham Ferrers you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Woodham Ferrers may decide 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 property.
I am looking for a conveyancing solicitor in South Woodham Ferrers for my home move. Is it possible to review a firm’s complaints history with the profession’s regulator?
Anyone may review presented Solicitor Regulator Association (SRA) determinations arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. For details Pre 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The SRA may recorded call for training reasons.
I own a leasehold flat in South Woodham Ferrers. Conveyancing was completed in 2010. I have heard that I mustn’t let the the remaining lease term to fall too short. Why is that a problem?
South Woodham Ferrers domestic long term leases are for a fixed period - often 99 years when they started. However many flats in South Woodham Ferrers were constructed or converted 35 or more years ago and so these leases now have fewer than eighty years remaining. That may sound like plenty of time however Banks, Building Societies and other mortgage lenders on the whole require leases to have a minimum of seventy five years unexpired to be mortgageable. This means that when you come to sell the property you will need a lease extension if you are getting close to eighty years. To enhance your property value you should be thinking about whether to extend your lease long before you come to sell it. Furthermore strong financial reasons to doing so before the lease reaches even eighty years as when the lease falls below eighty years the premium you have to pay to extend starts to get a lot more expensive.