My husband and I are refinancing our flat in Wellingborough with Yorkshire BS. We have a son 19 who lives with us. Our solicitor has asked us to disclose 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, giving up any rights in the event that the property is repossessed. I have two questions (1) Is this document specific to the Yorkshire BS conveyancing panel as he did not need to sign this form when we remortgaged 5 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 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.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would prefer to use a Wellingborough based conveyancing firm?
You should check but the the likelihood is that appoint one of their panel conveyancers should you accept the "fee-free" incentive. Call the lender and see if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Wellingborough.
A friend advised me that where I am buying in Wellingborough I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Wellingborough conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about Wellingborough around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Wellingborough Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Wellingborough Education with maps and statistics, Local Amenities and other useful data about Wellingborough.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Wellingborough is the location of the property. What do you suggest?
Flying freeholds in Wellingborough are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wellingborough you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wellingborough 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.
My husband and I are FTB’s - agreed a price, yet the agent told us that the seller will only proceed if we use the agent's preferred lawyers as they want a ‘quick sale’. Our preferred option is to instruct a high street conveyancer who is familiar with conveyancing in Wellingborough
We suspect that the owner is unaware of this ultimatum. Should the vendor desire ‘a quick sale', taking such a hostile approach to a genuine buyer is not the way to achieve this. Speak to the owners direct and make sure they understand (a)you are serious purchasers (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you wish to move quickly (e)but you will continue to instruct your own,trusted Wellingborough conveyancing solicitors - not the ones that will earn the negotiator at the agency a kickback or achieve conveyancing targets pre-set by corporate headquarters.
Been searching for a lawyer for freehold sale conveyancing in Wellingborough. We are selling, simple no mortgage to pay off, no rush, no onward purchase. Had an estimate from a lawyer for a thousand pounds excluding VAT which is a little high considering its so straightforward. Is it possible to find less expensive fees for conveyancing in Wellingborough?
As it’s a sale only, 475 + VAT is likely to be about the cheapest for a Wellingborough solicitor firm.