My husband and I are refinancing our apartment in Water Orton with Yorkshire BS. We have a son 18 who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of questions (1) Is this form unique to the Yorkshire BS conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Yorkshire BS 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 Yorkshire BS. This is solely used to protect Yorkshire BS 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 Yorkshire BS 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 am the sole beneficiary of my late mum's will with all property in now in my sole name, including the house in Water Orton. Conveyancing formalities meant that the Land Registry date was in December. I plan to dispose of the house. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership may be regarded the same way as though I had purchased the house in December. Will no one buy the property for half a year?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. How practical a view banks take of it, depend on the mortgage company as this requirement primarily exists to pick up on the purchase and immediately sell or the quick reselling of properties.
I have decided to exercise my right to buy my property in Water Orton off the council. I have a mortgage offer with Lloyds. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I was told four weeks ago that my mortgage has been agreed to by Yorkshire BS. Is it usual for Yorkshire BS to only issue the offer once my solicitor in Water Orton is approved on their conveyancing panel? Yorkshire BS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Yorkshire BS to deal with your lawyer's application to be on the Yorkshire BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
A colleague suggested that if I am purchasing in Water Orton I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Water Orton conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Water Orton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Water Orton Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Water Orton Education with plans and statistics, Local Amenities and other useful data about Water Orton.
How does conveyancing in Water Orton differ for new build properties?
Most buyers of new build property in Water Orton come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Water Orton tend to buy the site, 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 conveyancers 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 accustomed to new build conveyancing in Water Orton or who has acted in the same development.
What does commercial conveyancing in Water Orton cover?
Water Orton conveyancing for business premises incorporates a broad range of advice, provided by qualified solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
My husband and I are four weeks into a freehold purchase having been referred to solicitors by the estate agent to perform conveyancing in Water Orton. I am am very frustrated with the quality of service. Can you you assist me in finding new conveyancers?
A conveyancer would have to be very poor in order to consider diss instructing them. Has the mortgage been sent? If so you need to inform them of the new contact details and get the mortgage documents are re-sent. Your new solicitor ideally should be on the banks approved list to avoid added costs and delays. That should be your first question of the new solicitors. The find a solicitor tool will help you find a lender approved conveyancer for your conveyancing in Water Orton