I was advised recently by my financial adviser that my Carmel solicitor is not on the mortgage company Conveyancing panel. How can I be certain if this is indeed the case?
The first thing you need to do is to call your Carmel lawyer directly. You lawyer should notify you what has happened. Where they are not on the panel they may be able to suggest a Carmel conveyancing firm that is on the approved list of lawyers for your bank.
My partner and I swapping mortgage lender for our maisonette in Carmel with Aldermore. We have a son approaching twenty who lives at home. 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, giving up any rights in the event that the flat is forfeited by the lender. I have two questions (1) Is this document specific to the Aldermore conveyancing panel as he did not need to sign this form when we bought 5 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 Aldermore. This is solely used to protect Aldermore 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 Aldermore 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 mortgaging my property in Carmel, does my lawyer need to be on the Bank of Ireland Conveyancing panel?
There is nothing to stop you using your solicitor, but Bank of Ireland will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
How does conveyancing in Carmel differ for new build properties?
Most buyers of new build property in Carmel contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Carmel tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Carmel or who has acted in the same development.
In my capacity as executor for the estate of my uncle I am disposing of a property in Monmouth but I am based in Carmel. My conveyancer (based 300 kilometers awayrequires that I sign a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing lawyer in Carmel to witness this legal document for me?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are based in Carmel
I am a negotiator for a busy estate agent office in Carmel where we have witnessed a few leasehold sales jeopardised as a result of short leases. I have been given inconsistent advice from local Carmel conveyancing solicitors. Please can you confirm whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Carmel Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
Is the freehold owned collectively by the leaseholders? This question is important as a) areas may cause problems for the block as the communal areas may begin to deteriorate where repairs remain unpaid b) if the leaseholders have a dispute with the running of the building you will need to know about it Who are the managing agents?