My partner and I intend to remortgage our flat in Kings Norton with UBS. We have a son 18 who lives with us. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have two questions (1) Is this form unique to the UBS conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your UBS 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 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 have been told that property searches are the primary reason for hinderance in Kings Norton conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of delay in conveyancing in Kings Norton.
3 months have elapsed since my purchase conveyancing in Kings Norton took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the guidance of my in-laws I had a survey completed on a property in Kings Norton ahead of appointing lawyers. I have been advised that there is a flying freehold element to the house. The surveyor has said that some mortgage companies may refuse to give a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Kings Norton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Kings Norton to see if the conveyancing costs will increase in light of this.
Am I best advised to instruct a Kings Norton conveyancing solicitor based in the area that I am hoping to buy? An old friend can conduct the legal work but her office is a couple of hundredkilometers drive away.
The benefit of a local Kings Norton conveyancing practice is that you can visit the firm to execute documents, deliver your identification documents and apply pressure on them if necessary. They will also have local knowledge which is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and in the main were happy that must outweigh using an unknown Kings Norton conveyancing lawyer solely due to them being Kings Norton based.
I acquired a flat in Kings Norton last 8/3/2024 and to date it is still not recorded with HM Land Registry. It was part of a new estate and my conveyancing practitioner told me that it can take twelve months to register. I have called HM Land Registry directly and they have informed me the initial application was cancelled due to failure to reply to requisitions. Should I be concerned?
It is your property lawyer that you must contact in order to satisfy any questions which have arisen as part of the registration process for your Kings Norton property. Normal Kings Norton conveyancing practice includes an undertaking on the part of the seller's solicitor that they will help resolve any registration raised by HMLR so it may be a case of taking action to enforce that undertaking if necessary.