My partner and I swapping mortgage lender for our apartment in Blyth with UBS. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this form unique to the UBS conveyancing panel as he did not need to sign this form when we remortgaged 4 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 UBS. This is solely used to protect UBS 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 UBS 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 own a freehold premises in Blyth yet pay rent, why is this and what is this?
It’s unusual for properties in Blyth and has limited impact for conveyancing in Blyth 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 date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I have a decision in principle. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel conveyancer as I would prefer to appoint a specialised conveyancing solicitor in Blyth?
You should check but the chances are that allocate you one of their panel conveyancers if you take up the "fee-free" incentive. Speak to the bank to check if they allow a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor in Blyth.
We are close to exchanging contracts on the sale of our home in Blyth and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A high street Blyth conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using a web based conveyancing practice as opposed to a conveyancing solicitor in Blyth. Having lived in Blyth for six years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain confirmation that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I'm converting the mortgage on my existing house to a buy to let mortgage with Skipton Building Society and I will use the rest of the raised equity as a deposit on another house. The area we are talking about is Blyth. Will your lawyers be able to act for the two banks and link together the transactions?
Do use our search tool on this site to check that the solicitors are approved by both lenders. Assuming that they are the lawyer will be able to connect the two transactions but you should have a chat with you solicitor and specify your desired outcome and requirements.
In searching the web for the phrase conveyancing in Blyth it brings up many solicitorsin the vicinity. With so much choice what is the best way to find the right solicitor for purchase transaction?
The best method of choosing the right conveyancer is through a trusted testimonial, so seek the opinion of friends and relatives who have purchased a property in Blyth or the respected estate agent or financial adviser. Costs for conveyancing in Blyth differ, so it's advisable to obtain at least four fee calculations from varying types of solicitors. Make sure that you know that the costs are assured not to to be inflated.