My fiance and I are refinancing our flat in Brynford with HSBC. 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 reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have two questions (1) Is this document specific to the HSBC conveyancing panel as he never had to sign this form when we bought 3 years ago (2) Does our son by signing this extinguish his entitlement 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.
It has been five months following my purchase conveyancing in Brynford took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I opted to have a survey completed on a property in Brynford in advance of appointing conveyancers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some lenders may not give a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Halifax. If you e-mail us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Brynford. Conveyancing will be smoother if you use a solicitor in Brynford especially if they are familiar with such properties in Brynford.
I have been advised by numerous selling agents in Brynford to get a quote from a conveyancer using your seach tool. Is there a financial incentive for Estate Agents to market your lawyers over and above alternative conveyancing organisations?
We don’t offer any commission for pointing buyers and sellers in our direction. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
I need to appoint a conveyancing solicitor for my conveyancing in Brynford. I happened to chance upon a web site which looks to be the perfect solution If it is possible to get all the legals done via web that would be ideal. Do I need to be concerned? 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?
Midway through the sale of a leasehold flat in Brynford. Conveyancing is fine but we are being charged an extortionate amount from the managing agents. To date we have paid £237 for a leasehold management pack and then a further £118 for supplemental queries supplied by the purchaser's solicitor.
Neither you or your property lawyer will have any control over the level of the bill for this information however the average fee for the information for Brynford leasehold premises is £355. When it comes to Brynford conveyancing sales it is standard for the seller to cover the costs. The freeholder or their agents are not duty bound to answer such questions most will be willing to do so - albeit often at high prices where the fees bear little relation to the work involved. Unfortunately there is no legislation that requires set charges for administrative tasks. There is no set time limit by which they are duty bound to issue the information.