My fiance and I intend to remortgage our flat in Sketty with TSB. We have a son 18 who lives at home. 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 flat is repossessed. I have two questions (1) Is this form unique to the TSB conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this compromise his rights 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 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.
At what point will exchange of contracts happen for domestic conveyancing in Sketty and am I required to attend the lawyers office?
Where you are local to one of the conveyancing solicitors in Sketty you are invited in to sign the paperwork. That being said, the lender approved solicitors we recommend provide a countrywide conveyancing service and give as equally comprehensive and professional a job for you when dealing with you by post or email. The executing of the contract is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the firm to exchange contracts when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Sketty)to be in the office available at the end of the phone to exchange contracts.
Me and my partner are purchasing a house in Sketty. It might be a silly question but how we can trust a conveyancer? At some point we have to send money into their account. What is the protection we have from them run away with our monies?
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 recently had an offer accepted on a house in Sketty. My financial adviser recommended their conveyancers. I paid an on account payment of £225. Not long after, the conveyancing practitioner called me embarrassingly acknowledging that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
At last I have had an offer on a flat in Sketty accepted, but there is a chain. The owners have offered on a property, however it’s not yet agreed to, and are looking at other properties booked. I have selected a bricks and mortar conveyancing solicitor in Sketty. What do I do now? At what stage should I apply for the mortgage with RBS?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx £1k, then survey, Sketty conveyancing search costs, etc). The first thing to do is ensure that your solicitor is on the RBS conveyancing panel. As to the next steps this very much dictated by the specifics of your transaction, motivation for the property and on the state of the market. During a buoyant market many purchasers would apply for a home loan with RBS and pay for the valuation and only if it was satisfactory would they ask their property lawyer to move forward with searches.
Just acquired a detached house in Sketty , how long should it take for the Land Registry to deal with the formalities evidencing the transfer to my name? My Sketty conveyancing solicitor has been very slow, so I want to be certain the registration is concluded.
There is nothing unique when it comes to conveyancing in Sketty registration formalities. Rather than based on location, timescales can adjust subject to who lodges the application, whether it is in order and if the Land registry have to notify any other persons or bodies. At present in the region of three quarters of submission are completed within 12 days but occasionally there can be longer delays. Registration is effected once the buyer has moved in to the property thus an expedited registration is not always an essential issue yet where it is urgent that the the registration takes place urgently then you or your conveyancer must speak with the land registry and explain the circumstances.
I am using a search engine for the phrase cheap conveyancing in Sketty it brings up many conveyancerslocally. With so much choice what is the best way to find the suitable property lawyer for me?
The preferential method of seeking the right conveyancer is via personal referral, so enquire of colleagues and relatives who have bought a property in Sketty or the local estate agent or financial adviser. Costs for conveyancing in Sketty differ, so it's sensible to request at least three estimates from varying types of property lawyers. Dont forget to clarify that the charges are guaranteed not to escalate.
Is there a reason that Sketty conveyancing charges are more expensive for leasehold and freehold properties?
Leasehold conveyancing in Sketty can involve additional work for instance reviewing the lease, liaising with the freeholder, obtaining up to date rent receipts, landlord’s consents, management company’s accounts amongst other tasks.