My husband and I swapping mortgage lender for our maisonette in Great Ayton with Santander. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. 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 two questions (1) Is this form unique to the Santander conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) In signing this form is our son in any way compromising his right 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 Santander. This is solely used to protect Santander 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 Santander 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.
At what point can the exchange of contracts take place for purchase conveyancing in Great Ayton and am I required to be at the conveyancers office?
Where you are local to our conveyancing solicitors in Great Ayton you are welcome to come in to sign contracts. However, the law practices we work with supply countrywide coverage for conveyancing and provide as equally detailed and professional a job for you when dealing with you by post or email. The signing of the contract is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the solicitor to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Great Ayton)to be in the office available at the end of the phone to exchange contracts.
The deeds to my house are lost. The conveyancers who conducted the conveyancing in Great Ayton 4 years ago no longer exist. What do I do?
Assuming you have a registered title the details of your ownership will be held by the Land Registry under a Title Number. It is possible to conduct a search at the Land Registry, locate your property and secure current copies of the property title for less than a fiver. If the title is Leasehold then the Land Registry will in most cases hold a certified duplicate of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
How does conveyancing in Great Ayton differ for newly converted properties?
Most buyers of new build residence in Great Ayton approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is finished. This is because builders in Great Ayton tend to acquire the land, 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 property lawyers 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 Great Ayton or who has acted in the same development.
I need to instruct a conveyancing solicitor for residential conveyancing in Great Ayton. I have chance upon a site which seems to have the perfect solution If there is a chance to get all the legals completed via web that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?