My husband and I intend to remortgage our flat in Cockermouth with Barclays. We have a son approaching twenty who lives with us. Our solicitor requested us to identify 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 flat is repossessed. I have two concerns (1) Is this form unique to the Barclays conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Barclays 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 Barclays. This is solely used to protect Barclays 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 Barclays 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.
How does conveyancing in Cockermouth differ for newly converted properties?
Most buyers of new build property in Cockermouth contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because new home sellers in Cockermouth 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 Cockermouth or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Cockermouth in advance of appointing solicitors. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some banks may not give a loan on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cockermouth. Conveyancing will be smoother if you use a solicitor in Cockermouth especially if they regularly deal with such properties in Cockermouth.
Do I need to be suspicious by 3rd parties that I am dealing with are encouraging me to use an online conveyancing firm as opposed to a High Street Cockermouth conveyancing firm?
As is the case with many professional services, often suggestions from family and friends can be extremely useful or valuable. Nevertheless there are many parties with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and lenders might all suggest conveyancers to instruct. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there may be a financial incentive behind the recommendation. You have the discretion to appoint your preferred lawyer. However, bear in mind that many mortgage providers have an approved list of conveyancers you must use for the lender related work in your house move.
In my capacity as executor for the estate of my grandfather I am disposing of a house in Swansea but reside in Cockermouth. My lawyer (based 235 kilometers awayneeds me to execute a stat dec before completion. Could you suggest a conveyancing lawyer in Cockermouth who can attest and place their company stamp on the document?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are Cockermouth based
The loan agreement from a bank for the refinancing of my 3 bedroom apartment is due within the next few days. Are you able to recommend a cheap remortgage conveyancing lawyer in Cockermouth ?
You have come to the wrong place to search for the lowest fares for conveyancing in Cockermouth. Our aim is to provide excellent value conveyancing but we do not aim to advertise as being the cheapest. Resist the temptation to appoint brokers offering £99 conveyancing in Cockermouth.At best, in opting for cheap conveyancing, you will get what you pay for and at worst you will end up invoiced for additional fee and still not receive the service you were hoping for.