My fiance and I intend to remortgage our penthouse in Bridgwater with Virgin Money. We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of concerns (1) Is this form unique to the Virgin Money conveyancing panel as he did not need to sign this form when we purchased 5 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 Virgin Money 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 Virgin Money. This is solely used to protect Virgin Money 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 Virgin Money 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 conveyancers request money up-front for conveyancing in Bridgwater?
Where you are retaining lawyers for conveyancing in Bridgwater your solicitor will ask you put them with funds to cover the search fees. Generally this is requested to cover the fees of the conveyancing searches. When the down payment is payable against the purchase price then this will be needed immediately prior to contracts are exchanged. Any further balance that is due should be sent to your lawyer a couple of days prior to the completion date.
My uncle informed me that in purchasing a property in Bridgwater there may be various restrictions affecting the ability to carry out external alterations to a property. Is this right?
We are aware of a number of properties in Bridgwater which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Bridgwater should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Completion of my remortgage has taken place for my property in Bridgwater. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
After weeks of negotiation I have agreed a price on a house in Bridgwater. My mortgage broker pressured me to appoint their lawyer. I paid an advanced payment of £200. A couple of days later, the lawyer contacted me embarrassingly acknowledging that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to have this when buying a house in Bridgwater? or I am told that there is historic law that could mean that owners of property living in a parish church boundary will be compelled to pay for maintenance to the chancel within the church. Is this suitable for conveyancing in Bridgwater?
Unless a previous purchase of the property took place after 12 October 2013 you could expect solicitors delivering conveyancing in Bridgwater to remain encouraging a chancel search and or insurance against a claim.
What does commercial conveyancing in Bridgwater cover?
Non domestic conveyancing in Bridgwater incorporates a wide array of advice, supplied by qualified solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
Do online conveyancing organisations do everything a high street Bridgwater solicitor does or must I employ a solicitor for the final stages for my conveyancing in Bridgwater?
Where you use an online conveyancer they should cover all the work your Bridgwater solicitor would cover.