My partner and I are refinancing our flat in Wolstanton with Nottingham. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Nottingham conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Nottingham 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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.
My wife and I have arranged a further advance on our home loan from Skipton as we intend to carry out improvements to our house in Wolstanton. Do we need to select a bricks and mortar Wolstanton solicitor on the Skipton conveyancing panel to deal with the paperwork?
Skipton do not ordinarily instruct a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton list.
I am expecting a AIP from Lloyds this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Lloyds recommend any Wolstanton solicitors on the Lloyds conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Wolstanton solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
I have instructed a Wolstanton solicitor having made sure that they are on the Nationwide conveyancing panel. Does my lawyer arrange the survey of the property?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Wolstanton postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in Wolstanton.
Should our lawyer be asking questions about flooding during the conveyancing in Wolstanton.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Wolstanton. Plenty of people will purchase a house in Wolstanton, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, but there are a number of checks that can be carried out by the purchaser or on a buyer’s behalf which can figure out the risks in Wolstanton. The standard completed inquiry forms sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a standard question of the seller to find out if the premises has suffered from flooding. If flooding has previously occurred and is not disclosed by the vendor, then a purchaser may bring a claim for damages resulting from an incorrect reply. The buyer’s conveyancers should also carry out an environmental report. This should indicate if there is any known flood risk. If so, additional investigations will need to be carried out.
Despite weeks of looking the Title Certificate and documents to our home are lost. The lawyers who did the conveyancing in Wolstanton 4 years ago have long since closed. Will I be able to sell the house?
You no longer need to have the physical deeds to evidence that you are the owner of your registered land or property, given that the Land Registry have everything they need in a digital format.
How does conveyancing in Wolstanton differ for newly converted properties?
Most buyers of new build property in Wolstanton approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because house builders in Wolstanton typically acquire 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 conveyancers 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 accustomed to new build conveyancing in Wolstanton or who has acted in the same development.
What is the reason for my lawyer requiring various items of identification ahead of starting my conveyancing in Wolstanton?
Wolstanton lawyers are duty bound by the Law Society, SRA, HMLR and current Money Laundering Regulations to certify that the have verified the identity of their clients. It will also be a requirement of your mortgage offer. In addition they have to complete various forms, particularly those relating to SDLT and need to have details such as your full names, national insurance number and DOB.