My wife and I intend to remortgage our maisonette in Bures with HSBC. We have a son 19 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 apartment is forfeited by the lender. I have a couple of questions (1) Is this document specific to the HSBC conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) In signing this form is our son in any way compromising his right 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.
Do lawyers request money up-front for conveyancing in Bures?
If you are buying a property in Bures your lawyer will request that you put them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any down payment is as part of the total price then this will be required shortly ahead of contracts are exchanged. The closing balance that is needed will be payable shortly before completion.
My Conveyancer in Bures is not listed on the HSBC Bank Conveyancing Panel. Is it possible for me to retain my family solicitor even though they are not on the HSBC Bank approved list?
Your options are as follows:
- Carry on with your preferred Bures lawyers but HSBC Bank will need to instruct a conveyancer on their list of acceptable firms. This will inevitably rack up the total legal fees as well as result in delays.
- Choose a new lawyer to act in the conveyancing, not forgetting to check they are on the HSBC Bank panel
I purchased a 4 bedroom Edwardian property in Bures. Conveyancing lawyer acted for me and Norwich and Peterborough Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the exact same property. Is it worth asking Norwich and Peterborough Building Society to clarify?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bures and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing solicitor who completed the work.
What tools are available to identify a Bures law firm on the The Royal Bank of Scotland conveyancing panel? I drive a motor bike and am willing to travel upto 25kilometers to meet the lawyer.
You can use the facility on this page. Please choose the mortgage company and your location and you will see a number of Bures conveyancing lawyers based on proximity. We have detailed some Bures conveyancing firms towards the end of this page and you can telephone them to verify if they are on the The Royal Bank of Scotland panel
My partner has recommend that I use his conveyancing solicitors in Bures. Should I choose my own solicitor?
No doubt it’s preferable to choose a conveyancing solicitor is to have referrals from friends or relatives who have actually previously instructed the firm that you are contemplating using.