My partner and I swapping mortgage lender for our apartment in Windlesham with Yorkshire BS. We have a son 18 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. 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 concerns (1) Is this form unique to the Yorkshire BS conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Yorkshire BS 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 Yorkshire BS. This is solely used to protect Yorkshire BS 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 Yorkshire BS 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 Windlesham and am I required to be at the solicitors branch?
Where you are in close proximity to one of the conveyancing solicitors in Windlesham you are invited in to sign contracts. However, the lender approved solicitors we work with offer countrywide coverage for conveyancing and give just as comprehensive and professional a job for you when dealing with you by post or email. The executing of the contract is not the point of no return. Signing on the dotted line is necessary for the firm to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Windlesham)to be in the office at the appropriate time.
I purchased my house on 1 September and my personal details is not yet registered. Should I be concerned? My conveyancing solicitor in Windlesham expressed confidence that it will be dealt with in a couple of weeks. Are titles in Windlesham particularly slow to register?
As far as conveyancing in Windlesham registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timescales can vary subject to who lodges the application, whether it is in order and whether the Land registry must send notices to any 3rd persons or bodies. As of today roughly 80% of submission are fully dealt with in less than three weeks but occasionally there can be longer delays. Historically registration occurs once the buyer has moved in to the premises so registration formalities is not usually top priority but where it is urgent that the the registration takes place urgently then you or your conveyancer can contact the land registry and explain the circumstances.
I am buying a new build house in Windlesham benefiting from help to buy. The sellers refused to move on the amount so I negotiated 6k of additionals instead. The house builders rep suggested that I not disclose to my solicitor about this deal as it could put at risk my loan with Bank of Scotland. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey carried out on a house in Windlesham in advance of instructing conveyancers. I have been told that there is a flying freehold element to the property. The surveyor has said that some lenders will not issue a loan on a flying freehold home.
It depends who your proposed lender is. HSBC has different instructions for example to Nationwide. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Windlesham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Windlesham to see if the conveyancing will be more expensive.
Is it best to choose a Windlesham conveyancing practitioner based in the area that I am hoping to buy? We have a good friend who can carry out the conveyancing however his firm is located 400kilometers away.
The primary upside of using a high street Windlesham conveyancing practice is that you can visit the firm to execute paperwork, hand in your ID and pester them if necessary. They will also have local insight which is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and on the whole were content that should surpass using an unknown Windlesham conveyancing solicitor just because they are based in the area.