My wife and I are refinancing our apartment in Dockland Settlement with . 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. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this form unique to the conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) Does our son by signing this compromise his entitlement 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 . This is solely used to protect 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 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.
My house in Dockland Settlement is up for sale and I have a purchaser. Does my need to be on the conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.
How does conveyancing in Dockland Settlement differ for newly converted properties?
Most buyers of new build or newly converted property in Dockland Settlement come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is finished. This is because builders in Dockland Settlement typically buy 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 Dockland Settlement or who has acted in the same development.
I decided to have a survey done on a house in Dockland Settlement before instructing conveyancers. I have been told that there is a flying freehold aspect to the property. Our surveyor has said that some lenders will not grant a mortgage on such a house.
It varies from the lender to lender. HSBC has different instructions from Nationwide. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Dockland Settlement. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Dockland Settlement to see if the conveyancing costs will increase in light of this.
Is it best to instruct a Dockland Settlement conveyancing lawyer based in the vicinity that I am hoping to buy? We have a good friend who can execute the conveyancing but his firm is located a couple of hundredmiles drive away.
The primary upside of using a high street Dockland Settlement conveyancing practice is that you can drop in to sign documents, present your ID and apply pressure on them where appropriate. They will also have local intelligence which is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and on the whole were happy that must surpass using an unfamiliar Dockland Settlement conveyancing solicitor just because they are round the corner.