My husband and I intend to remortgage our penthouse in Poynton with Skipton. We have a son 19 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. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Skipton conveyancing panel as he never had to sign this form when we remortgaged 4 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 Skipton 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 Skipton. This is solely used to protect Skipton 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 Skipton 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.
Why is leasehold purchase conveyancing in Poynton is more expensive?
Poynton leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Poynton is the location of the property. Can you shed any light on this issue?
Flying freeholds in Poynton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Poynton you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Poynton may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
How do I locate a Poynton solicitor on the TSB conveyancing panel? I have wheels and am happy to travel upto 20kilometers to meet the lawyer.
You can use the facility on this page. Please select a bank and your location and you will see a number of Poynton conveyancing lawyers based on proximity. We have listed some Poynton conveyancing firms at the bottom of this page and you can telephone them to see whether they are on the TSB approved list
My brother is buying a studio flat in Poynton. He was given a quote by the property lawyer connected to the estate agents and it came to £1275 . It was ten years ago I sold and purchased a home and the fee was £440. Have costs really gone up that much?
You should visit two or three local Poynton conveyancing solicitors requesting estimates. It is advisable to base your decision not solely on cost, but on promptness and on how comprehensive the reply was.