My fiance and I changing mortgage lender for our penthouse in Penge with RBS. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults 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 flat is repossessed. I have a couple of questions (1) Is this form unique to the RBS conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your RBS 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 RBS. This is solely used to protect RBS 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 RBS 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.
As someone not used to conveyancing in Penge what is the number one tip you can give me concerning the legal transfer of property in Penge
You may not hear this from too many lawyers but conveyancing in Penge and elsewhere in England and Wales is often a confrontational process. In other words, when it comes to conveyancing there is an abundance of room for friction between you and others involved in the ownership transfer. For example, the vendor, property agent and even potentially a bank. Choosing a solicitor for your conveyancing in Penge should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the transaction whose role it is to protect your best interests and to keep you safe.
There is a definite increase in the "blame" culture- someone must be at fault for the process being so protracted. You must always trust your conveyancer above all other parties when it comes to the legal transfer of property.
I purchased my house on 2 September and my personal details are still not registered. Any reason for this? My conveyancing solicitor in Penge expressed confidence that it would be registered in a couple of weeks. Are transfers in Penge particularly slow to register?
There is nothing unique about conveyancing in Penge registration formalities. As opposed to being determined by geographic area, timeframes can differ depending on the party submitting the application, whether it is in order and if the Land registry communicate with any interested persons or bodies. Currently approximately three quarters of such applications are completed within two weeks but some can be subject to extensive hold-ups. Historically registration is effected once the buyer has moved in to the property so an expedited registration is not usually primary concern yet where it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for the application to be prioritised.
Due to the advice of my in-laws I had a survey completed on a property in Penge prior to appointing conveyancers. I have been told that there is a flying freehold element to the property. The surveyor advised that some lenders will refuse to give a mortgage on such a home.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Penge. Conveyancing may be slightly more expensive based on your lender's requirements.
In searching the world wide web for the term on line conveyancing in Penge it shows results of many conveyancerslocally. With so much choice what is the best way to find the suitable solicitor for me?
The preferential way of finding a suitable conveyancer is through a trusted recommendation, so seek the counsel of friends and relatives who have acquired a property in Penge or the respected estate agent or financial adviser. Charges for conveyancing in Penge vary, so it's sensible to secure at least three quotes from varying types of property lawyers. Dont forget to clarify that the fees are fixed.
My folks are having difficulties in finding their Penge property on the HMLR online search facility. They recall that back in the 60’s when they acquired the property there were complications concerning Penge not being identified on some systems.
Almost all properties in Penge should show up. Have you tried a search with simply the postcode. Ordinarily it will mention all the houses and flats inside the postcode. Assuming the property is recorded it will show up with a title number. If they bought sixty years ago it's conceivable it may be not yet registered. The property might still be revealed but with the title number identified as 'na'. In this scenario you will need to track down the original title deeds which could be with your parent’s mortgage company.