My husband and I swapping mortgage lender for our maisonette in Wythenshawe with Lloyds. We have a son approaching twenty who lives at home. 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, giving up any rights in the event that the flat is repossessed. I have two concerns (1) Is this document specific to the Lloyds conveyancing panel as he never had to sign this form when we bought 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 Lloyds 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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.
We wanted to use a conveyancing solicitor in Wythenshawe for our home move. Our financial adviser informed us that our bank Skipton Building Society won't deal with them. Why is this not regarded as unfair competition?
A bank will require a panel conveyancer act for it. Borrowers are expected to bear the charges for this. Please make use of our directory service to locate a solicitor to carry conveyancing in Wythenshawe on the Skipton Building Society member panel.
My wife and I are selling our home in Wythenshawe and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A local conveyancer would know this is not the case. It does beg the question why the buyers instructed a nationwide conveyancing firm rather than a conveyancing solicitor in Wythenshawe. Having lived in Wythenshawe for 5 years we know that this is a non issue. Do we contact our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing lawyer already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one near me in Wythenshawe I like with a park and transport links in the vicinity, however it's only got 61 years on the lease. I can't really find anything else in Wythenshawe suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
Should I go with a Wythenshawe conveyancing practitioner based in the vicinity that I am purchasing? We have a good friend who can handle the legal formalities but his firm is located approximately 350miles away.
The primary upside of using a local Wythenshawe conveyancing practice is that you can attend the office to sign documents, present your identification documents and apply pressure on them if necessary. They will also have local insight which is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and in the main were happy that must trump using an unfamiliar Wythenshawe conveyancing lawyer just because they are round the corner.