I am expecting a mortgage with Lloyds. I hope to retain the legal services of a Licensed Conveyancer in Blakeney. Does the Lloyds Solicitor panel exclude Licensed Conveyancers?
The Lloyds conveyancing panel is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My husband and I intend to remortgage our apartment in Blakeney with Barclays. 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 lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this document specific to the Barclays conveyancing panel as he did not need to sign this form when we purchased 4 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 Barclays 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 Barclays. This is solely used to protect Barclays 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 Barclays 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.
I am considering applying for a Coventry BS mortgage for purchase of a new build (under development) in Blakeney with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Coventry BS ?
In theory, you could use a solicitor that is not on the Coventry BS conveyancing panel, but Coventry BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
What can a local search inform me concerning the property I am buying in Blakeney?
Blakeney conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search organisations such as Xpress Legal The local search plays a central role in many a Blakeney conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search should provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
The deeds to our property are lost. The conveyancers who did the conveyancing in Blakeney 10 years ago no longer exist. Will I be able to sell the house?
Assuming the title is registered the information relating to your ownership will be retained by the Land Registry under a Title Number. It is possible to carry out a search at the Land Registry, identify your house and order up to date copies of the Registered Entries for a small fee. If the title is Leasehold then the Land Registry will usually hold a certified copy of the Registered Lease and again, a copy can be retrieved for twenty pounds.
I am looking for a leasehold apartment up to £305k and identified one round the corner in Blakeney I like with amenity areas and railway links nearby, however it's only got 49 years unexpired on the lease. There is not much else in Blakeney in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage that many years will likely be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.