My wife and I swapping mortgage lender for our apartment in Atherstone with Leeds Building Society. 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, waiving any legal rights in the event that the property is repossessed. I have two questions (1) Is this document specific to the Leeds Building Society conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) Does our son by signing this giving up his rights 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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 purchased a freehold premises in Atherstone yet pay rent, why is this and what is this?
It is rare for properties in Atherstone and has limited impact for conveyancing in Atherstone but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
How can we know in advance if a Atherstone conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in Atherstone obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor conducting your transaction.
I have decided to exercise my right to buy my property in Atherstone off the council. I have a mortgage offer with TSB. 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 TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
I was told two weeks ago that my mortgage has been agreed to by Bank of Ireland. Is it usual for Bank of Ireland to only issue the offer once my solicitor in Atherstone is approved on their conveyancing panel? Bank of Ireland have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Bank of Ireland to deal with your lawyer's application to be on the Bank of Ireland conveyancing panel. There's no guarantee that your solicitor will be accepted.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a simple, no chain conveyancing. Atherstone is the location of the property. Can you offer any opinion?
Flying freeholds in Atherstone are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Atherstone you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Atherstone may ascertain 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.
I'm remortgaging my existing house to a buy to let mortgage with Britannia and I will use the ballance of the raised equity as a down payment on another house. The neighborhood we are talking about is Atherstone. Will your solicitors be able to act for the two mortgage companies and link together the conveyances?
Do use our search tool on this site to ensure that the lawyers are on the appropriate lender panels. Having checked that they are your lawyer should be able to simultaneously deal with the two deals but you should have a chat with you lawyer and communicate your desired outcome and needs.
Am I best advised to choose a Atherstone conveyancing lawyer based in the area that I am purchasing? We have a good friend who can handle the conveyancing however her office is approximately 350kilometers drive away.
The benefit of a high street Atherstone conveyancing firm is that you can visit the firm to execute documents, hand in your ID and apply pressure on them where appropriate. They will also have local insight which is a bonus. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and the majority were happy that must trump using an unfamiliar Atherstone conveyancing solicitor just because they are Atherstone based.