My wife and I swapping mortgage lender for our apartment in West Bridgford with Nottingham. We have a son 19 who lives at home. Our solicitor requested us to identify anyone over the age of 17 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 apartment is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Nottingham conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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 buying a flat and require a conveyancing solicitor in West Bridgford who is on the TSB conveyancing panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for TSB . We don't recommend any particular firms conducting conveyancing in West Bridgford.
four months have gone by following my purchase conveyancing in West Bridgford completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Over the last few months I have been searching for a flat up to £235,500 and found one round the corner in West Bridgford I like with a park and station nearby, however it's only got 61 years on the lease. There is not much else in West Bridgford for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan the shortness of the lease will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
My husband and I are FTB’s - had an offer accepted, but the estate agent told us that the owners will only proceed if we use their recommended solicitors as they want an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer accustomed to conveyancing in West Bridgford
It is highly unlikely the owners are behind this. If they want ‘a quick sale', turning down a motivated purchaser is counter productive. Contact the sellers directly and make the point that (a)you are serious purchasers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)however you will continue to use your own,trusted West Bridgford conveyancing firm - not the ones that will give the estate agent a introducer fee or achieve conveyancing thresholds pre-set by HQ.
Do I have to pop into the offices of the bank conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in West Bridgford so that I can attend their offices if required.
Whereas this was necessary 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in West Bridgford.