My wife and I swapping mortgage lender for our apartment in Oadby with Clydesdale. We have a son approaching twenty 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, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Clydesdale conveyancing panel as he did not need to sign this form when we purchased 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 Clydesdale. This is solely used to protect Clydesdale 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 Clydesdale 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 can see plenty of here about conveyancing in Oadby but what is your top tip for choosing the right conveyancer in Oadby
We would encourage you not to go for the cheapest Oadby conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
A relative advised me that in purchasing a property in Oadby there could be a number of restrictions prohibiting external changes to a property. Is this right?
There are anumerous of properties in Oadby which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Oadby should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Oadby property lawyer on the Leeds Building Society panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
Are there restrictive covenants that are commonly picked up during conveyancing in Oadby?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Oadby. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying my first flat in Oadby with the aid of help to buy. The builders would not reduce the price so I negotiated 6k of extras instead. The estate agent advised me not to tell my conveyancer about this extras as it could affect my mortgage with Barclays . Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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 need to appoint a conveyancing solicitor for purchase conveyancing in Oadby. I happened to discover a site which seems to have the ideal solution If it is possible to get all this stuff done via web that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Partway through the sale of a leasehold flat in Oadby. Conveyancing is fine but we are being charged a fortune from the managing agents. So far we have forked out £250 for a leasehold management pack and then a further £200 plus VAT for supplemental questions raised by the purchaser's property lawyer.
Your property lawyer will unlikely have any impact over the extent of the bill for this information however the average costs for the information for Oadby leasehold premises is £395. For Oadby conveyancing transactions it is customary for the owner to pay for these charges. The landlord or their agents are not duty bound to address these questions most will agree to do so - albeit often at high prices where the fees bear little relation to the work involved. Regretfully there is no statute that mandates fixed fees for administrative tasks. Neither is there any statutory time limit by which they are required to provide the information.