My partner and I intend to remortgage our apartment in Woodstock with Yorkshire BS. We have a son 19 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of concerns (1) Is this form unique to the Yorkshire BS conveyancing panel as he did not need to sign this form when we bought 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 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.
I just bought a property at auction in Woodstock. Conveyancing is needed. What happens now?
Given that you are now to in every practical sense signed on the dotted line you now have to choose a conveyancing solicitor quickly as you are faced with a fast approaching deadline in which to complete the purchase. Every auction property will have a bespoke auction set of papers. This should include evidence of title and search results. Where you are dealing with leasehold premises the auction pack should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You must pass this on to the solicitor working for you as soon as possible. You also need to ensure that you have funds in order to complete the transaction on the set completion date.
We had chosen solicitors located in Woodstock on the Co-operative solicitor approved list. They are now charging me a supplemental fee for dealing with the Co-operative mortgage. Is this a supplemental conveyancing fee specified by Co-operative?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your conveyancer can levy a fee for this. The fee is not set by Co-operative but by your Woodstock property lawyer. Numerous firms on the Co-operative panel will quote an ‘acting for lender’ fee but plenty of firms incorporate it on their overall fee.
I am selling my flat. I had a double glazing fitted in March 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, HSBC are being problematic. The Woodstock solicitor who is on the HSBC conveyancing panel is saying indemnity insurance will be fine but HSBC are requiring a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
What can a local search tell me about the property I am purchasing in Woodstock?
Woodstock conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company for example PSG The local search is essential in every Woodstock conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search should supply information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
I am buying a new build apartment in Woodstock. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Woodstock
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Due to the input of my in-laws I had a survey completed on a property in Woodstock before instructing lawyers. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some banks tend refuse to give a loan on this type of premises.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. Should you wish to telephone 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 Woodstock. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Woodstock to see if the conveyancing costs will increase in light of this.
What is the distinction between surveying and conveyancing in Woodstock?
Conveyancing - in Woodstock or elsewhere - is the process of legally transferring legal title of property from one person to another. It involves the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re buying and will help you discover the condition of the building and, if there are problems, give you leverage for reducing the price down or asking the vendor to remedy the defects before you move in.