My husband and I intend to remortgage our penthouse in Lincolnshire with Leeds Building Society. We have a son 18 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 concerns (1) Is this document specific to the Leeds Building Society conveyancing panel as he did not need to sign this form when we bought 5 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 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.
As a first time buyer what is the most important advice you can give me regarding purchase conveyancing in Lincolnshire?
Not many law firms shout this from the rooftops but conveyancing in Lincolnshire or throughout England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there is lots of opportunity for conflict between you and other parties involved in the legal transfer of property. E.g., the vendor, property agent and on occasion your lender. Choosing a solicitor for your conveyancing in Lincolnshire an important selection as your conveyancer is your adviser, and is the SOLE party in the process whose role it is to act in your legal interests and to protect you.
We are witnessing a worrying increase of a "blame" culture- someone must be blamed for the process being so protracted. You your first instinct should be to trust your solicitor ahead of all other players in the conveyancing process.
What can a local search reveal about the house we're buying in Lincolnshire?
Lincolnshire conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations such as Xpress Legal The local search plays a central role in most Lincolnshire conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your property. The search should supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
I moved into my apartment on 7 October and the transaction details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Lincolnshire advises it would be recorded in less than a month. Are properties in Lincolnshire particularly slow to register?
As far as conveyancing in Lincolnshire is concerned, registration is no faster or slower than the rest of the country. Rather than based on location, timeframes can vary depending on who lodges the application, whether there are errors and if the Land registry need to notify any 3rd parties. Currently approximately 80% of submission are fully addressed within 12 days but some can be subject to extensive hold-ups. Registration occurs after the purchaser has moved in to the premises therefore 'speed' is not always top priority yet if there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for the application to be prioritised.
How much will conveyancing in Lincolnshire cost?
The total sum charged for conveyancing in Lincolnshire are likely to be calculated at:
- a set amount; or
- on a time spent basis (i.e. the time spent on the particular case).
In practice you seldom hear of Lincolnshire conveyancing firms charge on an hourly basis