My wife and I are refinancing our penthouse in Dymock with Yorkshire BS. We have a son 19 who lives with us. 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, giving up any rights in the event that the apartment is repossessed. I have two concerns (1) Is this document specific to the Yorkshire BS conveyancing panel as he did not need to sign this form when we purchased 5 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 Yorkshire BS 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 Yorkshire BS. This is solely used to protect Yorkshire BS 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 Yorkshire BS 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.
Can you explain why leasehold purchase conveyancing in Dymock costs more?
In summary, leasehold conveyancing in Dymock and elsewhere usually involve more due diligence compared to freehold conveyancing. This includes lease investigation, corresponding with the landlord about the service of applicable notices, procuring up-to-date service charge and management information, obtaining the landlord’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 owners have owned the lease since it was first entered into.
It has been 2 months since my purchase conveyancing in Dymock completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I was pointed in your direction by numerous estate agents in Dymock to select a conveyancer using your seach tool. Is there a financial upside for Estate Agents to promote your site over a competitor’s?
We don’t make any financial incentive for sending work in our direction. We thought it would be too underhand to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am hoping to sell my garage which is on a separate legal title at HMLR asking for 22k, to clear debts. There is a mortgage with Santander. Can you refer me to an inexpensive property lawyer as the standard £500-600 diminishes the return somewhat. Although I live in Dymock I dont need to appoint a Dymock conveyancer.
LenderPanel.com is restricted to being a directory service for property lawyers who wish to be listed as being on the approved conveyancing panel for Santander in certain locations for example Dymock . We dont recommend any specific solicitor.