My fiance and I intend to remortgage our maisonette in Handsworth with Nationwide. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this document specific to the Nationwide conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Nationwide 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 Nationwide. This is solely used to protect Nationwide 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 Nationwide 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.
It is a dozen years since I acquired my property in Handsworth. Conveyancing lawyers have now been appointed on the sale but I am unable to track down the title deeds. Is this a problem?
Don’t worry too much. Firstly the deeds may be kept by the lender or they may be in the possession of the lawyers who acted in your purchase. Secondly in most cases the land will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. Most conveyancing in Handsworth relates to registered property but in the rare situation where your property is unregistered it adds to the complexity but is not insurmountable.
What does a local search inform me regarding the property I am purchasing in Handsworth?
Handsworth conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company for instance Searches UK The local search is essential in every Handsworth conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search will supply data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
How does conveyancing in Handsworth differ for new build properties?
Most buyers of new build or newly converted property in Handsworth come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is built. This is because developers in Handsworth tend to acquire the site, 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 conveyancers 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 accustomed to new build conveyancing in Handsworth or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Handsworth ahead of appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some lenders will not grant a mortgage on this type of home.
It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. Should you wish to telephone us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Handsworth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Handsworth to see if the conveyancing will be more expensive.
In searching the world wide web for the words on line conveyancing in Handsworth it shows results of numerous solicitorsin the area. With so much choice what is the best way to find the right conveyancer for purchase transaction?
The ideal way of choosing the right conveyancer is via trusted referral, so enquire of colleagues and relatives who have bought a property in Handsworth or the reputable estate agent or financial adviser. Charges for conveyancing in Handsworth vary, so it's advisable to obtain at least four fee estimates from varying types of companies. Dont forget to clarify what costs in the quote includes.