My fiance and I are refinancing our flat in Blaenau Ffestiniog with TSB. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this document specific to the TSB conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this compromise his rights to inherit the property?
First, rest assured that your TSB 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 TSB. This is solely used to protect TSB 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 TSB 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.
Do I need to have a meeting at the offices of the solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Blaenau Ffestiniog so that I can pop in to their offices if required.
These days approved lawyers for mortgage companies carry out all of the communications through Royal Mail, e-mail or over phone calls. This means that they can undertake the legal work for your home move regardless of where you live in the country. Nevertheless you should see if you have the option of attending the offices of your conveyancing lawyer if you prefer.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Blaenau Ffestiniog?
There are two types of lawyers who can carry out conveyancing in Blaenau Ffestiniog namely CLC regulated conveyancers or solicitors. Both professionals administer conveyancing services that you need to complete the disposal or purchase of property. Both are required to conduct Blaenau Ffestiniog conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be professionally carried out and that the requirements and procedures should be accurately taken.
We are getting a further advance on our home loan from RBS as we intend to carry out renovations to our house in Blaenau Ffestiniog. Are we obliged to choose a nearby Blaenau Ffestiniog solicitor on the RBS conveyancing panel to handle the paperwork?
RBS would not normally appoint a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS conveyancing panel.
Coventry BS have agreed my mortgage in principle, my bid on a property in Blaenau Ffestiniog has been agreed to, now what?
The estate agent will need to be informed of your property lawyer's details (make sure the lawyers are on the bank’s approved list). Telephone Coventry BS or the financial adviser and complete any relevant forms. Coventry BS will appoint a valuer who will get in contact with the selling agent or seller to arrange a slot for the valuation to happen. Once conducted (assuming no problems) it takes approximately a fortnight to get a mortgage offer. Coventry BS will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Blaenau Ffestiniog.
How does conveyancing in Blaenau Ffestiniog differ for new build properties?
Most buyers of new build property in Blaenau Ffestiniog contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is constructed. This is because developers in Blaenau Ffestiniog typically purchase 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 conveyancing solicitors 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 used to new build conveyancing in Blaenau Ffestiniog or who has acted in the same development.
I opted to have a survey completed on a house in Blaenau Ffestiniog ahead of instructing solicitors. I have been told that there is a flying freehold element to the house. Our surveyor advised that some lenders will refuse to issue a loan on this type of home.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. If you e-mail us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Blaenau Ffestiniog. Conveyancing may be slightly more expensive based on your lender's requirements.
I was recommended by three or four local estate agents in Blaenau Ffestiniog to get a quote from a conveyancer using your seach tool. Is there a financial incentive for Estate Agents to recommend your services ahead of a competitor’s?
We refuse to offer any commission for directing people in our direction. We thought it would be too underhand a fee because home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.