My husband and I changing mortgage lender for our maisonette in Beaworthy with Skipton. We have a son 18 who lives with us. Our solicitor requested us to identify anyone over the age of 17 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 concerns (1) Is this form unique to the Skipton conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this giving up 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 Skipton. This is solely used to protect Skipton 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 Skipton 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 just had an offer accepted to purchase with Earl Shilton BS. I went into 3 or 4 high street practices yet am struggling to find a Beaworthy conveyancing firm on the Earl Shilton BS panel. Could you assist?
Feel free to take advantage of the find a lender approved solicitor tool on this site. Pick the lender and type Beaworthy or your preferred area and you will be presented with a number of lawyer offices in Beaworthy or near you.
Are there restrictive covenants that are commonly picked up during conveyancing in Beaworthy?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Beaworthy. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Beaworthy differ for newly converted properties?
Most buyers of new build residence in Beaworthy contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is built. This is because developers in Beaworthy usually buy the site, 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 accustomed to new build conveyancing in Beaworthy or who has acted in the same development.
Am I best advised to appoint a Beaworthy conveyancing lawyer who is local to the property I am buying? We have a good friend who can perform the conveyancing however her office is over three hundred kilometers away.
The benefit of a local Beaworthy conveyancing practice is that you can attend the office to sign paperwork, hand in your identification documents and pester them if necessary. Having local Beaworthy know how is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and they were happy that must surpass using an unknown Beaworthy conveyancing lawyer just because they are round the corner.
My step-son is about to join the property ladder, he had his mortgage in principle. When the seller agreed the offer on the house we contacted the mortgage institution to progress the mortgage application. I was shocked to learn that mortgage companies do not accept all conveyancer, they must be on their panel, is this legal?
Banks ordinarily imposes restrictions either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Beaworthy conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.