My fiance and I intend to remortgage our maisonette in Wargrave with Virgin Money. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. 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 two concerns (1) Is this form unique to the Virgin Money conveyancing panel as he did not need to sign this form when we remortgaged 3 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 Virgin Money 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 Virgin Money. This is solely used to protect Virgin Money 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 Virgin Money 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 planning to buy with Norwich and Peterborough Building Society. I visited 3 or 4 high street firms yet am unable to find a Wargrave conveyancing firm on the Norwich and Peterborough Building Society panel. Could you help?
Feel free to take advantage of the find a conveyancing panel solicitor tool on this web page. Pick the building society and type Wargrave or your preferred area and you will see numerous solicitors offices in Wargrave or near you.
What is the difference between a licensed conveyancer and conveyancing solicitor in Wargrave
There are many recorded licenced Conveyancers in Wargrave and Solicitor practices in Wargrave offering conveyancing We would stress that both are regulated professionals specialising in the legal work in transferring property. They may both also handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
We are aiming to move property in April. Does my conveyancing solicitor call the removal company on the completion day. On a separate note, can you put forward a removal company in Wargrave. Conveyancing firm was found before I stumbled across your website.
On the afternoon of completion you will need to pick up the house keys from the selling agent however this can only happen once the vendors lawyers advise the agent that the monies to complete are in and the keys can be collected. You will need to advise the removal company that they can start moving you in. We do not suggest a particular removal organisation but can assist you in choosing a conveyancing in Wargrave or a solicitor with expertise in conveyancing in Wargrave.
We had instructed conveyancing lawyers based in Wargrave on the Virgin Money solicitor panel. They are now charging me a supplemental charge for handling the Virgin Money mortgage. Is this a supplemental conveyancing fee specified by Virgin Money?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your conveyancer may charge a fee for this. This fee is not set by Virgin Money but by your Wargrave conveyancer. Numerous firms on the Virgin Money panel will charge ’dealing with mortgage’ fee but plenty of practices incorporate it on their overall fee.
How does conveyancing in Wargrave differ for newly converted properties?
Most buyers of new build or newly converted property in Wargrave contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Wargrave typically buy the land, 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 property lawyers 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 used to new build conveyancing in Wargrave or who has acted in the same development.
I decided to have a survey carried out on a house in Wargrave ahead of instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some lenders will refuse to give a mortgage on this type of property.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. If you call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Wargrave. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Wargrave to see if the conveyancing will be more expensive.
22 days into purchasing a property in Wargrave. Conveyancing solicitor has told us the property is "Leasehold". Does this make a difference on our HSBC valuation?
Wargrave conveyancing does not usually involve leasehold houses. The key factor here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's virtually freehold, so it’s unlikely to affect the marketability too much.
On the flip side, if it's, say, fifty five years it is bound to have a significant impact on the value, and probably wouldn't be mortgageable. The length of lease and ground rent will be stated in the lease to be supplied to your conveyancer.