My wife and I intend to remortgage our maisonette in Beaminster with Aldermore. We have a son 18 who lives at home. Our solicitor has asked us to disclose any adults 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 apartment is repossessed. I have a couple of questions (1) Is this form unique to the Aldermore conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Aldermore 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 Aldermore. This is solely used to protect Aldermore 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 Aldermore 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 had instructed conveyancers with offices in Beaminster on the Yorkshire BS solicitor approved list. They have just invoiced me a separate charge for the legal aspects of the Yorkshire BS mortgage. Is this a supplemental conveyancing fee set by Yorkshire BS?
Provided it is contained in their Terms of Engagement or estimate then yes your conveyancer may charge a fee for this. The charge is not set by Yorkshire BS but by your Beaminster property lawyer. Numerous firms on the Yorkshire BS panel will levy ’dealing with mortgage’ fee and others do not.
I had a mortgage agreed in principle with Principality. Beaminster conveyancing practitioners are chosen. How long does it take for Principality to forward the offer to the conveyancing practitioner?
There is no definitive answer here. Have Principality done the valuation? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Beaminster bank branch on a couple of occasions and was told it does not affect the mortgage offer and they will lend. My Beaminster conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they will not lend based on their specific requirements. I simply don't know who is right.
The solicitor has to comply with the Council of Mortgage Lenders’ Handbook section two requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have been told that property searches are the number one cause of delay in Beaminster conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Searches are not likely to be the root cause of slowing down conveyancing in Beaminster.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Beaminster is where the house is located. What do you suggest?
Flying freeholds in Beaminster are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Beaminster you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Beaminster may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am thinking of appointing a conveyancing solicitor in Beaminster for my house move. Is it possible to check a solicitor's record with the profession’s regulator?
Members of the public can review presented Solicitor Regulator Association (SRA) decisions resulting from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The regulator could recorded call for training purposes.
I require the services of a bank panel solicitor in Beaminster. Can you assist?
It is not clear why you need a Beaminster panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the mortgage company to find out which solicitors in Beaminster are on their panel . If you do find such a firm in Beaminster not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site