My partner and I are refinancing our apartment in Broadclyst with RBS. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose 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, giving up any rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this form unique to the RBS conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) Does our son by signing this giving up his entitlement 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 RBS. This is solely used to protect RBS 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 RBS 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.
Why is leasehold purchase conveyancing in Broadclyst is more expensive?
In summary, leasehold conveyancing in Broadclyst and Devon usually requires extra work compared to freehold conveyancing. This includes checking the lease terms, liaising with the landlord about serving required notices, procuring current service charge and management information, obtaining the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first granted.
I have paid off my mortgage with Leeds Building Society. I assume I don't need a Broadclyst conveyancer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
Planning on purchasing a house in Broadclyst. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Broadclyst property lawyer is on the Coventry BS conveyancing panel.
I have finally had an offer on an apartment in Broadclyst accepted, but there is a chain. The vendors have put an offer on a flat, however it’s not been accepted yet, and are looking at other properties in the pipeline. I have selected a nearby conveyancing solicitor in Broadclyst. What do I do now? When do I get the mortgage application with TSB going?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then survey, Broadclyst conveyancing search costs, etc). The first course of action is to check that your lawyer is on the TSB approved list. Concerning the next stages this very much dictated by the uniqueness of your case, attraction to this property and on the state of the market. In a buoyant market many purchasers will apply for the mortgage with TSB and pay for the valuation and only if it comes back ok would they ask their property lawyer to press on with the conveyancing in Broadclyst.
We are close to exchanging contracts on the sale of our home in Broadclyst and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A high street Broadclyst conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using a web based conveyancing outfit as opposed to a conveyancing solicitor in Broadclyst. We have lived in Broadclyst for six years we know of no issue. Is it a good idea to contact our local Authority to get clarification need.
It would appear that you have a conveyancing lawyer already. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I have recentlydiscovered that Stirling Law have been shut down. They carried out my conveyancing in Broadclyst for a purchase of a leasehold apartment 12 months ago. How can I check that my home is in my name in the name of the former proprietor?
The easiest method to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Broadclyst conveyancing specialists.