I am in need of a conveyancer. Should I go for for an internet conveyancer as opposed to a local Bracebridge Heath conveyancing solicitor?
Bracebridge Heath is a unique place, where regional insight counts for a lot. The relaxed pace of life has an upside – just not when it comes to your house move. The conveyancers that we recommend host well rounded Bracebridge Heath knowledge with a positive, can doattitude that ensures the conveyancing to progress without drama. It is a definite plus where they enjoy good connections with financial advisers, search providers, surveyors and other Bracebridge Heath conveyancing firms
My wife and I intend to remortgage our flat in Bracebridge Heath with Leeds Building Society. 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. 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 Leeds Building Society conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your Leeds Building Society 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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.
Me and my brother purchased a semi-detached Georgian house in Bracebridge Heath. Conveyancing lawyer acted for me and Halifax. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold under the matching property. I thought I was buying a freehold how can I check?
You should assess 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bracebridge Heath and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with your conveyancing solicitor who conducted the work.
How does conveyancing in Bracebridge Heath differ for newly converted properties?
Most buyers of new build property in Bracebridge Heath approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Bracebridge Heath usually 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 conveyancing solicitors 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 Bracebridge Heath or who has acted in the same development.
I have been on the look out for a flat up to £305k and identified one near me in Bracebridge Heath I like with amenity areas and station in the vicinity, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Bracebridge Heath in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage that many years will likely be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.