My wife and I swapping mortgage lender for our penthouse in Bilston and Bradley with . 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 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 a couple of concerns (1) Is this document specific to the conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong 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 . This is solely used to protect 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 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 just had an offer accepted to purchase with . We have called around locally yet am unable to find a Bilston and Bradley conveyancing firm on the panel. Could you help?
Feel free to make the most of the find a lender approved solicitor tool on this page. Please choose the building society and type Bilston and Bradley or your preferred area and you will see numerous solicitors offices in Bilston and Bradley or nearest you.
I have been on the look out for a leasehold apartment up to £235,500 and found one round the corner in Bilston and Bradley I like with amenity areas and transport links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Bilston and Bradley for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan that many years will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I am selling my house. My past solicitors has retired. I would be grateful for any recommendation of a conveyancing firm. Im based in Bilston and Bradley if that affects matters.
Do use our search tool to help you find a solicitor for your conveyancing in Bilston and Bradley. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
At what stage do I pay stamp duty payable for my house transaction in Bilston and Bradley?
Your should fill out a Land Transaction Return Form for you as part of your Bilston and Bradley conveyancing transaction for you to sign. On completion your will submit your STL Return Form to the Tax Authorities and - as long as they have the funds - pay any Stamp Duty due for you.