My wife and I are refinancing our flat in Dartmouth Park with Principality. We have a son approaching twenty 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 repossessed. I have a couple of questions (1) Is this document specific to the Principality conveyancing panel as he never had to sign this form when we purchased 3 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 Principality. This is solely used to protect Principality 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 Principality 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.
My mortgage company has suggested a law firm on their panel based in Dartmouth Park but I would rather use a conveyancing lawyer in Dartmouth Park local to me. Can you help?
It is by no means the case that all Dartmouth Park conveyancing solicitors are approved and listed on all banks conveyancing panel. Please make use of our find an approved solicitor tool to locate a Dartmouth Park conveyancing conveyancer on the on the bank panel.
My wife and I are buying a property in Dartmouth Park. I might seem paranoid but how we can trust a solicitor? On the day of competition we will need to put our life savings into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it the case that all Dartmouth Park solicitor practices on the Aldermore conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Aldermore conveyancing panel they would need to be governed by the SRA. Some lenders do allow licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.
I'm in the process of looking at flats in Dartmouth Park and I am now considering a potential offer. Is it best to have my conveyancer on ‘stand by’? I intend to finance via a mortgage with Aldermore.
You should start obtaining conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. Given that you are getting a mortgage with Aldermore, ask your prospective lawyers if they are on the Aldermore conveyancing panel otherwise they can't do the mortgage legal work.
I have justdiscovered that Arc property Solicitors have closed. They carried out my conveyancing in Dartmouth Park for a purchase of a leasehold apartment 12 months ago. How can I check that my home is in my name in the name of the previous owner?
The easiest way to see if the premises is registered to you, you can carry out 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 Dartmouth Park conveyancing specialists.
I'm purchasing a new build house in Dartmouth Park benefiting from help to buy. The builders refused to reduce the price so I negotiated £7000 of extras instead. The house builders rep told me not to tell my conveyancer about this extras as it would put at risk my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I opted to have a survey carried out on a house in Dartmouth Park ahead of instructing conveyancers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some lenders tend not give a loan on this type of property.
It varies from the lender to lender. Santander has different requirements from Nationwide. Should you wish to telephone us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Dartmouth Park. Conveyancing will be smoother if you use a solicitor in Dartmouth Park especially if they are familiar with such properties in Dartmouth Park.