My husband and I intend to remortgage our flat in Lakenham with Kent Reliance. 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 property is repossessed. I have a couple of concerns (1) Is this document specific to the Kent Reliance conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) In signing this form is our son in any way compromising his right 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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.
What is the first thing I need to know regarding purchase conveyancing in Lakenham?
Not many law firms or advisers will tell you this but conveyancing in Lakenham or throughout England and Wales is often a confrontational process. In other words, when it comes to conveyancing there exists an abundance of room for conflict between you and other parties involved in the legal transfer of property. For example, the vendor, selling agent and even potentially the mortgage company. Selecting a lawyer for your conveyancing in Lakenham is a critical decision as your conveyancer is your adviser, and is the ONE person in the process whose interest is to protect your legal interests and to protect you.
We are witnessing a definite emergence of a "blame" culture- someone must be at fault for the process being so protracted. You must always trust your solicitor ahead of all other parties when it comes to the legal transfer of property.
2 months have elapsed following my purchase conveyancing in Lakenham took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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 asset 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.
I opted to have a survey carried out on a house in Lakenham ahead of retaining solicitors. I have been advised that there is a flying freehold element to the property. My surveyor advised that some mortgage companies will not give a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. Should you wish to telephone us we can investigate further via 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 Lakenham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Lakenham to see if the conveyancing will be more expensive.
Is it simple use your search app to get a costs illustration from a conveyancing practitioner in Lakenham on the panel for my mortgage?
Step one is to choose a bank such as Nationwide Building Society, The Royal Bank of Scotland or Britannia then choose your location for example Lakenham. Conveyancing organisations in Lakenham and nationally will then be identified.
In scouring the internet for the term conveyancing in Lakenham it shows results of many property lawyersin the vicinity. How do I determine which is the right conveyancer for purchase transaction?
The ideal method of finding the right conveyancer is through a personal referral, so enquire of friends and relatives who have bought a property in Lakenham or a local estate agent or financial adviser. Costs for conveyancing in Lakenham differ, so it's advisable to obtain at least four fee estimates from different solicitors. Be sure to secure confirmation that the fees are fixed.