My partner and I are refinancing our flat in Willerby with Nationwide. We have a son 19 who lives at home. Our solicitor requested us to identify 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, waiving any legal rights in the event that the flat is forfeited by the lender. I have two questions (1) Is this form unique to the Nationwide conveyancing panel as he did not need to sign this form when we purchased 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 Nationwide 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 Nationwide. This is solely used to protect Nationwide 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 Nationwide 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.
We are getting a further advance on our home loan from Nationwide as we wish to carry out improvements to our home in Willerby. Are we obliged to appoint a nearby Willerby solicitor on the Nationwide conveyancing panel to handle the legals?
Nationwide would not normally instruct firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide conveyancing panel.
My husband and I are at the point of viewing apartments in Willerby and I am about to put in an offer. Is it sensible to have a conveyancer on ‘stand by’? I intend to finance via a mortgage with Clydesdale.
It would be sensible to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. As you are taking out a mortgage with Clydesdale, make sure you remember to check that your lawyer is on the Clydesdale conveyancing panel.
Our offer on a semi in Willerby has been accepted, but there is a chain. The vendors have put an offer on a flat, however it’s not yet agreed to, and are looking at other flats in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Willerby. What should be my next step? At what point should I apply for the mortgage with Nottingham?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then survey, Willerby conveyancing search fees, etc). The first thing to do is ensure that your property lawyer is on the Nottingham conveyancing panel. As to the next stages this very much dictated by the specifics of your case, motivation for the property and on the state of the market. During a rising market the majority of buyers will apply for a home loan with Nottingham and pay for the valuation and only if it was satisfactory would they pay their property lawyer to move forward with the conveyancing in Willerby.
Various web forums that I have frequented warn that are the main reason for stalling in Willerby conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays in the conveyancing process. Searches are not likely to be the root cause of holding up conveyancing in Willerby.
How does conveyancing in Willerby differ for newly converted properties?
Most buyers of new build premises in Willerby come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because new home sellers in Willerby typically buy the land, 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 used to new build conveyancing in Willerby or who has acted in the same development.
My folks cant seem to find their Willerby land registry title on the website. They have a vague memory fifty years ago when they acquired the house there were complications concerning the address not being recognised in some systems.
The vast majority of premises in Willerby should be revealed. Have you attempted a search to just the postcode. Normally it will disclose all the properties within that postcode. Where registered it will show up with a title number. If they bought fifty years ago it's conceivable it may be not yet registered. The property could still be revealed but with the title number identified as 'na'. In this scenario you will need to find the original title papers which could be with your parent’s mortgage company.