My fiance and I are refinancing our flat in Caversham with RBS. We have a son 19 who lives with us. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the RBS conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this extinguish his rights 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 RBS. This is solely used to protect RBS 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 RBS 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.
Can I use your services to recommend a Conveyancing solicitor in Caversham even where I’m not buying or disposing of a house, for instance if I want to buy a shop in Caversham with a mortgage from Accord Mortgages Ltd?
Our search tool is mainly there to select residential conveyancing solicitors in Caversham but we have recorded towards the bottom of this page a few Caversham commercial conveyancing firms. You will need to make contact with the company directly to establish if they can also act for Accord Mortgages Ltd
Do the Building Society Association intend to launch a searchable register to list solicitors on the Darlington Building Society conveyancing panel for example in Caversham?
We are not aware of any intention on the part of the BSA to promote such a tool.
Should our lawyer be making enquiries concerning flooding during the conveyancing in Caversham.
The risk of flooding is if increasing concern for solicitors dealing with homes in Caversham. There are those who buy a house in Caversham, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, but there are a number of checks that can be initiated by the buyer or on a buyer’s behalf which can figure out the risks in Caversham. The conventional set of property information forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to discover whether the premises has historically flooded. In the event that the residence has been flooded in past which is not disclosed by the vendor, then a purchaser may issue a claim for damages as a result of such an incorrect answer. The buyer’s lawyers should also conduct an environmental report. This will reveal if there is a recorded flood risk. If so, additional investigations should be carried out.
In searching the web for the words cheap conveyancing in Caversham it brings up numerous solicitorslocally. With so much choice what is the best way to find the right property lawyer for purchase transaction?
The ideal way of choosing the right conveyancer is via trusted testimonial, so enquire of friends and those you trust who have acquired a property in Caversham or a respected estate agent or financial adviser. Fees for conveyancing in Caversham vary, so it's sensible to secure at least four quotes from different companies. Dont forget to clarify what costs in the quote includes.
My partner and I soon to complete on the purchase a house in Caversham but as a consequence of wreckage from the recent storms I have negotiated compensation from the vendor of £3k taking the form of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process yet the bank will not agree to this. Should they have been approached?
Your lawyer listed on the mortgage company approved list is required to inform the lender of any variations to the sale amount. If you were to refuse your conveyancing practitioner to notify the reduction to your lender then they would have to disinstructing themselves from acting for you and the lender.