My husband and I changing mortgage lender for our maisonette in Clophill with TSB. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults 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 property is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the TSB conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this giving up 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 TSB. This is solely used to protect TSB 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 TSB 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 been advised by my solicitor that lack of building regulations insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Clophill?
The right level of lack of building regulations indemnity insurance should be dictated by who who your lender is. It would differ for example between Santander and Barnsley Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.
We have a mortgage agreed in principle with Co-operative. Clophill conveyancing lawyers have been selected. How long does it take for Co-operative to send the offer to the lawyer?
Some lenders take longer than others. Have Co-operative completed the valuation? Have you advised Co-operative as to your lawyers' details and checked that your lawyers are on the Co-operative conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
After much negotiation I have agreed a price on a house in Clophill. My mortgage broker pressured me to appoint their property lawyer. I paid an upfront payment of £150. A few days later, the solicitor called me embarrassingly acknowledging that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
The estate agent has sent us the confirmation of our purchase of a new build flat in Clophill. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Clophill
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Over the last few months I have been searching for a flat up to £195,000 and found one near me in Clophill I like with open areas and transport links nearby, however it's only got 49 years on the lease. I can't really find anything else in Clophill in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
How do I use your search app to find a conveyancing lawyer in Clophill on the authorised to act for my bank?
First pick a bank such as Santander, Chelsea Building Society or Clydesdale then specify your location e.g. Clophill. Conveyancing organisations in Clophill and across England and Wales should be identified.
My cousin has encouraged me to instruct his conveyancers in Clophill. Should I use them?
Much as we are happy to recommend a Clophill conveyancing lawyer the best way to choose a conveyancing solicitor is to seek referrals from friends or relatives who have actually previously instructed the conveyancer that you are are thinking of instructing.