My wife and I intend to remortgage our penthouse in Teddington with Bank of Ireland. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Bank of Ireland 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 Bank of Ireland 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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.
I know that there are debates on Chancel Insurance on online forums. Am I compelled to have this when purchasing a property in Teddington? or Apparently there is a law dating back centuries that could mean that house owners living in a parish church boundary will be compelled to contribute towards repairs towards the chancel in proximity to the church. Is this relevant for conveyancing in Teddington?
Unless a prior acquisition of the house completed post 12 October 2013 you can assume that lawyers delivering conveyancing in Teddington to remain recommending a chancel search and or chancel repair liability insurance.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The lawyers who conducted the conveyancing in Teddington 10 years ago are no longer around. What do I do?
You no longer need to hold title original deeds to prove you are the registered proprietor of land or property, given that the Land Registry have everything they need in a digital format.
How does conveyancing in Teddington differ for newly converted properties?
Most buyers of new build residence in Teddington approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Teddington tend to purchase 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 property lawyers 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 Teddington or who has acted in the same development.
My husband and I are novice buyers - had an offer accepted, yet the agent advised that the owners will only go ahead if we appoint their preferred lawyers as they need an ‘expedited deal’. We would rather use a local conveyancer used to conveyancing in Teddington
We suspect that the seller is unaware of this request. Should the vendor want ‘a quick sale', taking such a hostile approach to a genuine buyer is likely to cause more damage than good. Try to communicate with the sellers directly and explain that (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you are going to use your own,trusted Teddington conveyancing lawyers - not the ones that will earn the estate agent a referral fee or achieve conveyancing figures pre-set by head office.