My husband and I intend to remortgage our penthouse in Kelsall with Nottingham. We have a son 18 who lives with us. 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 apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the Nottingham conveyancing panel as he did not need to sign this form when we bought 4 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 Nottingham 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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're in Kelsall, First timers buying with a mortgage (lender is Coventry BS , and our lawyer is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
What does a local search tell me concerning the property my wife and I purchasing in Kelsall?
Kelsall conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company for example Onsearch The local search plays an important role in most Kelsall conveyancing purchase; that is if you don’t want any nasty surprises after you move into your property. The search will supply information on, amongst other things, details on planning applications applicable to the premises (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 13 topic headings.
Despite weeks of looking the Title Certificate and documents to our property are lost. The lawyers who handled the conveyancing in Kelsall 10 years ago have long since closed. What are my next steps?
Gone are the days when you need to have the physical original deeds to establish that you own the land or property, as the Land Registry hold details of all registered land or property electronically.
I am buying my first flat in Kelsall with a loan from Yorkshire Building Society. The builders would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not reveal to my conveyancer about this side-deal as it will jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am one month into a freehold purchase having been recommend to conveyancers by the local agent to execute conveyancing in Kelsall. I am not happy. Could you help me find new lawyers?
They would have to be very poor in order to consider diss instructing them. Has the mortgage offer been sent? In the event that it has you will need to inform them of the new contact details and get the offer are issued to the new lawyers. Your conveyancer needs to be on the mortgage company approved list to avoid added expenses and frustration. That should be your first question of the new conveyancers. Our find a solicitor tool will assist you in finding a bank approved solicitor for your home move in Kelsall