My partner and I swapping mortgage lender for our flat in Sandiacre with RBS. We have a son 18 who lives at home. Our solicitor requested us to identify 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, waiving any legal rights in the event that the apartment is repossessed. I have two concerns (1) Is this form unique to the RBS conveyancing panel as he never had to sign this form when we bought 5 years ago (2) In signing this form is our son in any way compromising his right 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.
I purchased a freehold property in Sandiacre but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Sandiacre and has limited impact for conveyancing in Sandiacre but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
How does conveyancing in Sandiacre differ for new build properties?
Most buyers of new build or newly converted property in Sandiacre approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is finished. This is because developers in Sandiacre tend to purchase the real estate, 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 Sandiacre or who has acted in the same development.
I'm converting the mortgage on my current home to a BTL loan with Skipton Building Society and intend to use the remaining equity as a down payment on further property. The location we are talking about is Sandiacre. Will your lawyers be able to act for the two banks and link together the conveyances?
Make use of our search tool on this page to be sure that the solicitors are approved by both mortgage companies. On the basis that they are your solicitor should be able to connect the two deals but you should have a chat with you lawyer and make clear your desired outcome and needs.
In scouring the world wide web for the term cheap conveyancing in Sandiacre it reveals numerous property lawyerslocally. How do I determine which is the suitable property lawyer for purchase transaction?
The preferential method of seeking a suitable conveyancer is via personal referral, so ask friends and relatives who have bought a property in Sandiacre or a local estate agent or financial adviser. Charges for conveyancing in Sandiacre vary, so it's a good idea to obtain at least three estimates from varying types of solicitors. Be sure to secure confirmation that the charges are assured not to escalate.
Me and mypartner and I are in the market for a quality conveyancing lawyer in Sandiacre to purchase a flat. I really don't want to get ripped off but with many Sandiacre conveyancing organisations out there...how do I know which one is best to appoint?
Where you’ve not used a conveyancer in the past, a trustworthy recommendation through relatives or friends is a great place to start and is often a good indicator of quality. Alternatively, consult the Law Society’s online record of solicitors in Sandiacre or use our search tool to find a conveyancing solicitor in Sandiacre.