My partner and I changing mortgage lender for our penthouse in Sidmouth with Skipton. We have a son 18 who lives with us. 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, giving up any rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the Skipton 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?
First, rest assured that your Skipton 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 Skipton. This is solely used to protect Skipton 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 Skipton 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.
It is 10 years ago since I bought my property in Sidmouth. Conveyancing lawyers have now been instructed on the sale but I can't track down the title documents. Is this a problem?
Don’t worry too much. First the deeds may be kept by the lender or they could still be with the lawyers who acted in the purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. Nearly all conveyancing in Sidmouth relates to registered property but in the rare situation where your home is unregistered it adds to the complexity but is resolvable.
We're in Sidmouth, First timers purchasing with a mortgage (lender is Skipton , and our solicitor is on the Skipton conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Skipton conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My wife and I are buying a property in Sidmouth. I might seem paranoid but how we can trust a solicitor? On completion day we have to send funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Sidmouth lawyer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Am I right?
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
My sealed bid on a house in Sidmouth has been agreed to, the sellers do however have a connected purchase. The vendors have offered on on an apartment, however it’s not yet tied up, and are looking at other flats booked. I have instructed a high street conveyancing solicitor in Sidmouth. What do I do now? At what stage do I apply for the mortgage with TSB?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx £1k, then survey, Sidmouth conveyancing search costs, etc). The first course of action is to ensure that your conveyancing practitioner is on the TSB conveyancing panel. Regarding the subsequent phase this very much depends on the specifics of your case, attraction to this property and on the state of the market. In a buoyant market some buyers would apply for a home loan with TSB and arrange for the valuation and only if it was satisfactory would they ask their solicitor to proceed with the conveyancing in Sidmouth.
About to purchase a new build apartment in Sidmouth. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Sidmouth
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants.
My partner has recommend that I instruct his conveyancers in Sidmouth. Should I choose my own property lawyer?
No doubt the ideal way to choose a conveyancing practitioner is to get referrals from friends or relatives who have previously instructed the firm you're contemplating using.