My fiance and I changing mortgage lender for our penthouse in Wilberfoss with Principality. 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 lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have two concerns (1) Is this document specific to the Principality conveyancing panel as he never had to sign this form when we bought 4 years ago (2) Does our son by signing this extinguish his entitlement 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 Principality. This is solely used to protect Principality 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 Principality 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.
Can you point me to a directory of Co-operative panel conveyancers in Wilberfoss on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lenders make their panel listings available over the internet. Where you are looking for a Wilberfoss lawyer on the Co-operative please make the most of our tool.
Two weeks ago we had a mortgage agreed in principle with Lloyds. Wilberfoss conveyancing practitioners have been appointed. What is the average time that one could expect to receive a mortgage offer from Lloyds?
Some lenders take longer than others. Have Lloyds completed the survey? Have you informed Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have today made my last payment due on my mortgage with Nottingham. I assume I don't need a Wilberfoss lawyer on the Nottingham panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
I have been on the look out for a flat up to £305k and identified one round the corner in Wilberfoss I like with amenity areas and transport links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Wilberfoss in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan that many years will likely be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
What does commercial conveyancing in Wilberfoss cover?
Wilberfoss conveyancing for business premises incorporates a wide array of services, provided by regulated solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases 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 leases.
My husband and I are new on the property ladder - had an offer accepted, yet the estate agent told us that the vendor will only issue a contract if we appoint their recommended conveyancers as they want an ‘expedited deal’. We would rather use a high street solicitor who is familiar with conveyancing in Wilberfoss
We suspect that the seller is unaware of this request. Should the vendor require ‘a quick sale', turning down a motivated buyer is going to damage their objectives. Speak to the vendors direct and make sure they comprehend that (a)you are motivated purchasers (b)you are excited to move forward, with finances arranged © you are chain free (d) you intend to proceed fast (e)but you intend to instruct your preferred Wilberfoss conveyancing firm - not the ones that will earn their negotiator at the agency a kickback or meet his conveyancing thresholds set by head office.
If instructed can a conveyancer remove someone from the title of my home in Wilberfoss ?
Extracting or adding someone to the title of your house is relatively straightforward. You’ll need to appoint a lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a conveyancer