It may have been a long time coming a mortgage offer from NatWest for the remortgage of my 2 room apartment is due imminently. Are you able to put forward a low cost conveyancing law firm in Freshwater Bay?
This site is not designed to aid those in pursuit of a cheap conveyancing in Freshwater Bay. We can offer you affordable conveyancing but we do not advertise as being the cheapest. Avoid the trap of appointing companies seducing you with ninety nine pound conveyancing in Freshwater Bay. At best, in being led by low cost conveyancing, you will get your money’s worth and at worst it will result in you being stung for additional fees and still not receive the service expected.
My wife and I changing mortgage lender for our flat in Freshwater Bay with Leeds Building Society. 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, giving up any rights in the event that the property is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Leeds Building Society conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this extinguish 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 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.
How does conveyancing in Freshwater Bay differ for newly converted properties?
Most buyers of new build or newly converted property in Freshwater Bay contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is finished. This is because developers in Freshwater Bay tend to acquire the site, 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 accustomed to new build conveyancing in Freshwater Bay or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Freshwater Bay in advance of instructing lawyers. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some lenders will not issue a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Freshwater Bay. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Freshwater Bay to see if the conveyancing costs will increase in light of this.
Am I better off to instruct a Freshwater Bay conveyancing solicitor in close proximity to the house I am purchasing? An old friend can perform the legal formalities however his firm is located 400kilometers away.
The primary upside of using a local Freshwater Bay conveyancing firm is that you can attend the office to execute paperwork, present your identification documents and apply pressure on them where appropriate. Having local Freshwater Bay know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and in the main were content that must trump using an unfamiliar Freshwater Bay conveyancing solicitor just because they are local.