My partner and I swapping mortgage lender for our maisonette in Broadstairs with . We have a son 18 who lives with us. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have two questions (1) Is this form unique to the conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) Does our son by signing this compromise 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 . 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.
I am the registered owner of a freehold property in Broadstairs yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Broadstairs and has limited impact for conveyancing in Broadstairs but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
What is your number one tip for finding a conveyancing solicitor in Broadstairs
Do not opt for the cheapest Broadstairs conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
Two weeks ago we had a mortgage agreed in principle with . Broadstairs conveyancing lawyers are instructed. What is the average time that one could expect to receive a mortgage offer from ?
There is no definitive answer here. Have done the valuation? Have you advised as to your lawyers' details and checked that your lawyers are on the conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
My wife and I are in the throws of looking at houses in Broadstairs and I am about to put in an offer. Is it best to have my on ‘stand by’? I am planning to take a home loan with .
It would be sensible to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are taking out a mortgage with , make sure you remember to check that your lawyer is on the conveyancing panel.
I require expedited conveyancing in Broadstairs as I am under pressure to exchange contracts inside 4 weeks. Thankfully I do not require a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
As you are are a cash buyer you are at liberty not to do searches although no lawyer would suggest that you don't. Drawing on years of experience of conveyancing in Broadstairs the following are examples of what can show up and adversely affect future saleability: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Unadopted Roads,...
Due to the guidance of my in-laws I had a survey completed on a house in Broadstairs before instructing conveyancers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some banks will refuse to grant a loan on a flying freehold property.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Broadstairs. Conveyancing will be smoother if you use a solicitor in Broadstairs especially if they are familiar with such properties in Broadstairs.