My partner and I changing mortgage lender for our maisonette in Princes Risborough with UBS. We have a son approaching twenty 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 property is forfeited by the lender. I have a couple of questions (1) Is this form unique to the UBS conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) Does our son by signing this giving up his rights 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 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.
How does conveyancing in Princes Risborough differ for new build properties?
Most buyers of new build premises in Princes Risborough come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Princes Risborough typically 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 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 Princes Risborough or who has acted in the same development.
I'm refinancing my primary home to a buy to let mortgage with Coventry Building Society and intend to use the remaining equity towards a second property. The location we are looking at is Princes Risborough. Will your conveyancers be able to act for both sets of banks and link together the transactions?
Do use our comparison tool on this page to ensure that the solicitors are on the appropriate lender panels. On the basis that they are the solicitor will be able to simultaneously deal with the two transactions but you should have a chat with you solicitor and specify your desired outcome and needs.
I need to instruct a conveyancing solicitor for residential conveyancing in Princes Risborough. I've land on a web site which looks to be the perfect offering If there is a chance to get all the legals done via web that would be ideal. Should I be wary? 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?
Due to complete next month on a garden flat in Princes Risborough. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Princes Risborough should include some of the following:
Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? You must be advised what is to be regarded as a Nuisance as far as the lease is concerned Does the lease require carpeting throughout thus preventing wood flooring? Whether the lease restricts you from letting out the property, or having a home office for business
Princes Risborough Conveyancing for Leasehold Flats - A selection of Questions you should ask before buying
Plenty Princes Risborough leasehold properties will have a service charge for maintenance of the block set on behalf of the landlord. Should you purchase the apartment you will have to pay this contribution, normally quarterly throughout the year. This can vary from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent to be met annual, this is usually not a exorbitant sum, say around £25-£75 but you should to enquire as sometimes it can be many hundreds of pounds. Is anyone aware of any major works in the planning that will likely add a premium to the maintenance fees? The prefered form of lease structure is if the freehold title is in the ownership of the leaseholders. In this scenario the leaseholders benefit from control and even though a managing agent is usually retained if the building is bigger than a house conversion, the managing agent employed by the leaseholders.