My partner and I intend to remortgage our maisonette in Bedfordshire with TSB. We have a son 18 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 a couple of questions (1) Is this form unique to the TSB conveyancing panel as he did not need to sign this form when we remortgaged 3 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 TSB. This is solely used to protect TSB 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 TSB 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.
Will conveyancers request money up-front when it comes to conveyancing in Bedfordshire?
Where you are retaining lawyers for conveyancing in Bedfordshire your solicitor will ask you put them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is payable against the sale price then this should be asked for shortly prior to contracts are exchanged. The final balance that is needed should be sent to your lawyer shortly before completion.
We just had an offer accepted to buy with Melton Mowbray Building Society. We have called around locally but am struggling to find a Bedfordshire conveyancing firm on the Melton Mowbray Building Society panel. Could you help?
Please do take advantage of the search tool on this web page. Please choose the building society and type Bedfordshire or your preferred area and you will see numerous solicitors offices in Bedfordshire or nearest you.
Will my solicitor be raising enquiries about flooding as part of the conveyancing in Bedfordshire.
Flooding is a growing risk for conveyancers carrying out conveyancing in Bedfordshire. Some people will purchase a house in Bedfordshire, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, but there are a various searches that can be initiated by the buyer or on a buyer’s behalf which will figure out the risks in Bedfordshire. The conventional set of completed inquiry forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the owner to determine whether the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the seller, then a purchaser could issue a claim for damages as a result of such an inaccurate response. A purchaser’s conveyancers may also commission an enviro search. This will disclose if there is a recorded flood risk. If so, additional inquiries should be carried out.
My wife and I purchased a terraced Georgian house in Bedfordshire. Conveyancing lawyer acted for me and Godiva Mortgages Ltd. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold under the matching property. Is it worth asking Godiva Mortgages Ltd to clarify?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bedfordshire and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing practitioner who carried out the work.
What is the distinction between surveying and conveyancing in Bedfordshire?
Conveyancing - in Bedfordshire or anywhere in England and Wales - is the process of legally transferring legal title of property from one person to another. It involves the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you find out about the condition of the building and, if there are problems, give you leverage for reducing the price down or asking the seller to fix the problems prior to you move in.