My husband and I intend to remortgage our penthouse in Tyldesley with Leeds Building Society. 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 reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the Leeds Building Society conveyancing panel as he did not need to sign this form when we remortgaged 5 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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.
Does a directory service exist listing Leeds Building Society panel conveyancers in Tyldesley on the Council of Mortgage Lender’s Website?
No. There is no such facility on the CML or Building Society Association websites. A small selection of lending institutions make their panel listings visible on the web. Where you are looking for a Tyldesley lawyer on the Leeds Building Society please make the most of our facility.
I have paid off my mortgage with Clydesdale. I assume I don't need a Tyldesley solicitor on the Clydesdale panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Clydesdale 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 Clydesdale mortgage from the register. Clydesdale, 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 Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
After weeks of negotiation I have agreed a price on a house in Tyldesley. My mortgage broker suggested a solicitor. I paid an advanced payment of £150. A few days later, the conveyancer contacted me sheepishly admitting that they were not on the Virgin Money 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 Virgin Money 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.
I require fast conveyancing in Tyldesley as I am faced with a deadline to sign on the dotted line inside one month. Thankfully I do not need a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
As you are are a cash purchaser you are at liberty not to do searches although no conveyancer would suggest that you don't. Drawing on our experience of conveyancing in Tyldesley the following are examples of issues that can show up and adversely affect market value: Enforcement Notices, Outstanding Fees, Outstanding Grants, Unadopted Roads,...
three months have gone by since my purchase conveyancing in Tyldesley concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Tyldesley differ for new build properties?
Most buyers of new build property in Tyldesley come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Tyldesley usually buy the site, 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 Tyldesley or who has acted in the same development.
My boyfriend is purchasing a garden flat in Tyldesley. He was given a quote by the property lawyer suggested by the selling agents totaling £1300 . It was eight years ago since I sold and bought a house and the fee was £450. Have costs really increased to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Tyldesley searches, land registry fees, etc)