I am getting a mortgage with Lloyds. My intention is to enlist the help of a Licensed Conveyancer in Cheam. Does the Lloyds Conveyancing panel allow for conveyancers regulated by the CLC?
The Lloyds conveyancing panel is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My husband and I changing mortgage lender for our penthouse in Cheam with Bank of Ireland. We have a son 19 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have two questions (1) Is this form unique to the Bank of Ireland conveyancing panel as he never had to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Bank of Ireland 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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 have recentlyfound out that Stirling Law have closed. They conducted my conveyancing in Cheam for a purchase of a freehold house 12 months ago. How can I check that the property is registered correctly in the name of the previous owner?
The quickest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Cheam conveyancing specialists.
How does conveyancing in Cheam differ for newly converted properties?
Most buyers of new build premises in Cheam approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Cheam usually buy the land, 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 property lawyers 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 used to new build conveyancing in Cheam or who has acted in the same development.
I decided to have a survey carried out on a house in Cheam before appointing lawyers. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies may refuse to give a loan on this type of home.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cheam. Conveyancing will be smoother if you use a solicitor in Cheam especially if they are acquainted with such properties in Cheam.
I'm converting the mortgage on my existing house to a BTL mortgage with Norwich and Peterborough Building Society and intend to use the remaining equity towards another property. The location we are talking about is Cheam. Will your lawyers be able to act for both sets of lenders and link together the transactions?
Make use of our comparison tool on this page to ensure that the conveyancers are approved by both banks. Assuming that they are your conveyancer should be able to tie up the two conveyancing matters but you should have a chat with you conveyancer and specify your expectations and requirements.