My fiance and I intend to remortgage our penthouse in Bow with Yorkshire BS. We have a son 19 who lives with us. Our solicitor requested us to identify 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, waiving any legal rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this form unique to the Yorkshire BS conveyancing panel as he did not need to sign this form when we bought 3 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 Yorkshire BS 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 Yorkshire BS. This is solely used to protect Yorkshire BS 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 Yorkshire BS 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.
It is a dozen years since I acquired my property in Bow. Conveyancing lawyers have recently been instructed on the sale but I can't track down the title documents. Will this jeopardise the sale?
You need not be too concerned. First there is a possibility that the deeds will be kept by your lender or they could stored with the solicitor who acted in the purchase. Secondly in most cases the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining current official copies of the land registers. Most conveyancing in Bow relates to registered property but in the rare situation where your home is unregistered it adds to the complexity but is not insurmountable.
What is the difference between a licensed conveyancer and conveyancing solicitor in Bow
There are many registered licenced Conveyancers in Bow and Solicitor firms in Bow to choose from It is important to make clear that the two are regulated professionals specialising in the legal work in the home buying process. Both can handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I am due to exchange contracts on my flat. I had a double glazing fitted in June 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Santander are being difficult. The Bow solicitor who is on the Santander conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Santander are insisting on a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have instructed a Bow solicitor having checked that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Bow surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I require quick conveyancing in Bow as I have pressure to complete within 3 weeks. A mortgage is not required. Is it possible to decline from having conveyancing searches to save money and time?
If.Given you are not getting a home loan you have the choice not to do searches although no lawyer would suggest that you don't. With lots of history conveyancing in Bow the following are examples of what can arise and therefore affect the marketability of the property: Enforcement Notices, Overdue Fees, Outstanding Grants, Railway Schemes,...
Are there any apps to help identify a Bow law firm on the Barclays Direct conveyancing panel? I drive a motor bike and am prepared to travel upto 20miles to meet the conveyancer.
You can use the search on this page. Please choose the lender and your location and you will see a number of Bow conveyancing lawyers located nearest you. We have listed some Bow conveyancing firms towards the end of this page and you can call them to verify if they are on the Barclays Direct member panel
Can I determine who owns a property in Bow?
As long as the premises is recorded at HMLR, and you have sufficient details of the location of the property, you will be able to obtain results from the HM Land Registry of the registered owner for a for less than a fiver.