My husband and I are refinancing our flat in Holton le Clay with Co-operative. We have a son 18 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have two questions (1) Is this form unique to the Co-operative conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Co-operative 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 Co-operative. This is solely used to protect Co-operative 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 Co-operative 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.
We're in Holton le Clay, First timers buying with a mortgage (lender is Leeds Building Society , and our solicitor is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am buying a house and the solicitor has referenced Chancel Repair for which the property may be liable because it falls into the area of such a church. He has recommended insurance. Is this really necessary for conveyancing in Holton le Clay
Unless a previous acquisition of the premises took place post 12 October 2013 you could assume that conveyancing practitioners conducting conveyancing in Holton le Clay to remain encouraging a chancel search and or chancel repair liability policy.
How does conveyancing in Holton le Clay differ for new build properties?
Most buyers of new build property in Holton le Clay contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Holton le Clay tend to 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 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 Holton le Clay or who has acted in the same development.
My wife and I purchased a leasehold house in Holton le Clay. Conveyancing and Clydesdale mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Holton le Clay who previously acted has now retired. Do I pay?
First contact HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Holton le Clay conveyancing firm to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Holton le Clay Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
How many of the leaseholders are in arrears for their maintenance charge payments? How much is the ground rent and service charge? Does the lease include onerous restrictions?