My partner and I swapping mortgage lender for our apartment in Birkenhead with HSBC. We have a son 18 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. 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 a couple of concerns (1) Is this document specific to the HSBC conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right 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 HSBC. This is solely used to protect HSBC 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 HSBC 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.
Will our lawyer be making enquiries concerning flooding as part of the conveyancing in Birkenhead.
Flooding is a growing risk for conveyancers carrying out conveyancing in Birkenhead. There are those who acquire a house in Birkenhead, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not qualified to offer advice on flood risk, however there are a number of searches that may be undertaken by the buyer or on a buyer’s behalf which should figure out the risks in Birkenhead. The conventional set of completed inquiry forms supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the vendor to determine whether the premises has ever been flooded. If the residence has been flooded in past and is not notified by the seller, then a buyer could issue a compensation claim stemming from an incorrect reply. A buyer’s solicitors may also carry out an enviro search. This should higlight if there is a recorded flood risk. If so, additional investigations should be conducted.
Due to the advice of my in-laws I had a survey completed on a house in Birkenhead prior to appointing solicitors. I have been advised that there is a flying freehold element to the property. The surveyor has said that some banks tend not grant a loan on such a premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. If you call us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Birkenhead. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Birkenhead to see if the conveyancing will be more expensive.
I'm converting the mortgage on my primary property to a BTL loan with Yorkshire Building Society and I will use the ballance of the raised equity towards further property. The neighborhood we are looking at is Birkenhead. Will your lawyers be able to act for both sets of mortgage companies and link together the transactions?
Make use of our comparison tool on this page to ensure that the solicitors are on the appropriate lender panels. Having checked that they are your conveyancer will be able to connect the two conveyancing matters but you should have a chat with you solicitor and communicate your desired outcome and needs.
I need to appoint a conveyancing solicitor for residential conveyancing in Birkenhead. I've discover a web site which appears to be the perfect offering If it is possible to get all this stuff completed via email that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
To what extent are Birkenhead conveyancing solicitors under an obligation to the Law Society to publish transparent conveyancing figures?
Inbuilt into the Solicitors Code of Conduct are prescriptive rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be regarded as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, represent the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Birkenhead or across England and Wales.