My fiance and I are refinancing our penthouse in Old Woking with TSB. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 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 apartment is forfeited by the lender. I have two concerns (1) Is this document specific to the TSB conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your TSB 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 TSB. This is solely used to protect TSB 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 TSB 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.
Finally the sale completed on my house in Old Woking last December but my buyer keeps e-mailing every few hours to moan that her lawyer needs to hear from mylawyer. What are the post completion sale formalities now that I have sold?
Following your house sale your conveyancer should forward the transfer documentation and all supplemental paperwork to the purchaser's solicitors. Depending on the transaction, your conveyancer must also send confirmation that the home loan has been paid off to the purchasers solicitors. There is unlikely to be post completion steps specific conveyancing in Old Woking.
My husband and I are purchasing a 3 bedroom flat in Old Woking with a residential mortgage from Godiva Mortgages Ltd.We like our Old Woking conveyancing practitioner but Godiva Mortgages Ltd says he's not listed on their "panel". We have to appoint a Godiva Mortgages Ltd panel firm or keep our preferred solicitor and fork out for a Godiva Mortgages Ltd panel lawyer to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage issued to you contains terms and conditions, one of which will be that solicitors will be on the Godiva Mortgages Ltd approved list. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Godiva Mortgages Ltd
We are planning on selling our property in Old Woking and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any high street Old Woking conveyancer would know that there is no such problem. It does beg the question why the purchasers used a web based conveyancing firm as opposed to a conveyancing solicitor in Old Woking. We have lived in Old Woking for three years we know that this is a non issue. Do we get in touch with our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
Have purchased a a terraced house in Old Woking , how long will it take for the Land Registry to register my ownership? My Old Woking conveyancing solicitor works at snail pace, so I want to check the land registry aspects are concluded.
As far as conveyancing in Old Woking registration is no faster or slower than the rest of England and Wales. Rather than based on location, timescales can vary subject to who lodges the application, whether there are errors and if the Land registry need to notify any interested persons or bodies. As of today roughly 80% of such applications are fully dealt with in less than three weeks but some can be subject to protracted hold-ups. Historically registration occurs once the buyer is living at the property so post completion formalities is not usually an essential issue yet where there is a degree of urgency associated with the registration then you or your conveyancer should speak with the land registry and explain the circumstances.
How does conveyancing in Old Woking differ for newly converted properties?
Most buyers of new build residence in Old Woking contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in Old Woking typically acquire the land, 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 accustomed to new build conveyancing in Old Woking or who has acted in the same development.