My fiance and I intend to remortgage our apartment in Aspley Guise with Clydesdale. We have a son 19 who lives at home. Our solicitor requested us to identify any adults 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 flat is forfeited by the lender. I have two questions (1) Is this document specific to the Clydesdale conveyancing panel as he never had to sign this form when we bought 4 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 Clydesdale 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 Clydesdale. This is solely used to protect Clydesdale 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 Clydesdale 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.
What can a local search inform me regarding the house we're buying in Aspley Guise?
Aspley Guise conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance Xpress Legal The local search plays an important part in most Aspley Guise conveyancing purchase; as long as you don’t want any nasty surprises after you move into your property. The search should provide data on, amongst other things, details on planning applications applicable to the premises (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.
My wife and I have a semi-detached Edwardian property in Aspley Guise. Conveyancing lawyer acted for me and Skipton Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Aspley Guise and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with the conveyancing solicitor who completed the work.
How does conveyancing in Aspley Guise differ for new build properties?
Most buyers of new build premises in Aspley Guise approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is finished. This is because builders in Aspley Guise typically acquire the real estate, 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 Aspley Guise or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Aspley Guise in advance of retaining lawyers. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some lenders tend refuse to give a loan on such a house.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Aspley Guise. Conveyancing will be smoother if you use a solicitor in Aspley Guise especially if they are accustomed to such properties in Aspley Guise.