My husband and I changing mortgage lender for our penthouse in Manchester with UBS. We have a son 19 who lives at home. 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 flat is forfeited by the lender. I have two questions (1) Is this form unique to the UBS conveyancing panel as he never had to sign this form when we purchased 3 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 UBS 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 UBS. This is solely used to protect UBS 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 UBS 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 Manchester, First timers purchasing with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer 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.
How does conveyancing in Manchester differ for new build properties?
Most buyers of new build property in Manchester contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is finished. This is because developers in Manchester tend to buy 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 conveyancing solicitors 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 used to new build conveyancing in Manchester or who has acted in the same development.
Given that I will soon part with 450k on a garden flat in Manchester I would like to have a conversation with the solicitor concerning thehouse move in advance of appointing the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor who will be carrying out your conveyancing in Manchester.There is no ‘factory style conveyancing’ - each client is an important individual, not a matter reference. The solicitors that we put you in touch with believe that the fees you are provided with for residential conveyancing in Manchester should be the amount on the final invoice that you end up paying.
Been searching for a property lawyer for freehold sale conveyancing in Manchester. We are selling, simple no mortgage to pay off, no hurry, currently empty. Had an estimate from a solicitor for £1000 excluding VAT which is a little expensive considering its so straightforward. Can I pay less for conveyancing in Manchester?
Given that it’s a sale only, 475 + VAT is likely to be about the cheapest for a Manchester solicitor firm.