Having been referred to your web site we were about to use a conveyancing solicitor in Morpeth endorsed using your comparison tool but have come across alternative fee calculations via the web appear cheaper – why is this?
One can find numerous conveyancing organisations promoting self styled cut-price conveyancing, but extracosts end up with the final bill being escalated. Conveyancers are obliged to make sure that fees set out in terms of engagement should be equitable and be applied The solicitors that we list for conveyancing in Morpeth genuinely set out all costs for a residential conveyancing matter.
My husband and I are refinancing our flat in Morpeth with Bank of Ireland. We have a son 18 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Bank of Ireland conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Bank of Ireland 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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 wanted to use a conveyancing solicitor in Morpeth for our house move. Our financial adviser informed us that our mortgage lenders Godiva Mortgages Ltd won't deal with them. Why is this not regarded as unduly restrictive?
A bank can insist on an approved solicitor act for it. You would be liable to bear the cost of this. Try using our database to locate a solicitor to carry conveyancing in Morpeth on the Godiva Mortgages Ltd conveyancing panel.
How does conveyancing in Morpeth differ for new build properties?
Most buyers of new build property in Morpeth come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Morpeth usually buy 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 conveyancing solicitors 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 used to new build conveyancing in Morpeth or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, chain free conveyancing. Morpeth is where the house is located. Is there any guidance you can give?
Flying freeholds in Morpeth are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Morpeth you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Morpeth may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I’m about to sell my ground floor apartment in Morpeth. Conveyancing is yet to be initiated, but I have just received a quarterly service charge invoice – Do I pay up?
The sensible thing to do is pay the maintenance contribution as you normally would as all rents and maintenance invoices will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Morpeth Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
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Is there a share of the freehold? Who are the managing agents?