My husband and I changing mortgage lender for our penthouse in Overton with Bank of Ireland. We have a son 19 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is repossessed. I have two questions (1) Is this form unique to the Bank of Ireland conveyancing panel as he never had to sign this form when we remortgaged 3 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 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.
Have purchased a a terraced house in Overton , What is the estimated time for the Land Registry to register my ownership? My Overton conveyancing solicitor has been very slow, so I want to be certain the registration is concluded.
As far as conveyancing in Overton registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can differ subject to who lodges the application, whether it is in order and if the Land registry communicate with any interested persons or bodies. Currently roughly three quarters of such applications are fully dealt with in less than three weeks but occasionally there can be protracted delays. Historically registration is effected after the new owner has moved in to the premises therefore 'speed' is not usually an essential issue yet where there is a degree of urgency associated with the registration then you or your solicitor must communicate with the Registry to express the reasoning for an expedited registration.
Taking into account that I will soon spend £400,000 on 3 bedroom house in Overton I wish to talk to a lawyer regarding thehouse move ahead of giving the go ahead to the firm. Can this be arranged?
Absolutely - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer due to be doing your conveyancing in Overton.There is no ‘factory style conveyancing’ - every client is unique individual, not a case number. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Overton should be the amount on the final invoice that you end up paying.
I need to instruct a conveyancing solicitor for residential conveyancing in Overton. I have stumble across a site which looks to be the ideal solution If it is possible to get all the legals completed via web that would be preferable. Do I need to be concerned? What should out be looking out for?
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?
Looking forward to exchange soon on a studio apartment in Overton. Conveyancing lawyers have said that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Overton should include some of the following:
-
The landlord’s rights to access the property. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Advice concerning the obligations as set out in the lease to to contribute towards maintenance costs - in respect of the block, and the more general rights a leaseholder has How long the lease is. You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years You would want to be sent a copy of the lease What you can do if an adjoining owner is in violation of a provision in their lease?
Leasehold Conveyancing in Overton - Examples of Questions you should consider Prior to buying
-
Its a good idea to find out as much as possible concerning the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to practical matters such as the tidiness of the communal areas. Enquire of prospective neighbours if they are happy with their management. In conclusion, be sure you discover the dates that the maintenance charges are due to the managing agents and specifically how they are spending the funds. Plenty Overton leasehold flats will incur a service bill for the upkeep of the block invoiced on behalf of the landlord. Where you acquire the flat you will have to pay this charge, normally in instalments accross the year. This may be anything from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a ground rent for you to pay annual, ordinarily this is not a significant amount, say about £25-£75 but you need to enquire as sometimes it could be prohibitively expensive.
My husband and I have had DIP from Chelsea Building Society who indicated that they will loan up to £350k. At what point do we need to appoint a lawyer for conveyancing? Overton is where we plan to move to.
It would be wise to instruct a property lawyer now requesting that they open a file for you. This will trigger: 1) the selling agent to issue a Sales Memorandum to the relevant parties 2) the seller’s property lawyer to submit the draft paperwork. That being said, do not ask your lawyer to start searches until you have your valuation report via Chelsea Building Society and you are happy to move forward.