My wife and I are refinancing our apartment in Fairbourne with Leeds Building Society. We have a son 19 who lives at home. Our solicitor requested us to identify anyone over the age of 17 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 apartment is forfeited by the lender. I have two questions (1) Is this form unique to the Leeds Building Society conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Leeds Building Society 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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.
A colleague advised me that in purchasing a property in Fairbourne there may be various restrictions as to what one can do in terms of external changes to a property. Is this right?
There are a number of properties in Fairbourne which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Fairbourne should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We have agreed to purchase a house in Fairbourne. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nottingham be concerned?
Given that your lender is Nottingham your lawyer must check the formal requirements outlined in Part 2 of UK Finance Lenders’ Handbook for Nottingham. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and property lawyers are required to report to Nottingham where a lease does not meet these specifications. The requirements relate to the installation of panels on properties countrywide and is not restricted to Fairbourne.
I can not fathom if my bank requires a lease extension. I have called my Fairbourne building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Fairbourne conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the solicitor is on the lender panel, they must follow the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I opted to have a survey carried out on a property in Fairbourne in advance of instructing solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some banks may refuse to grant a loan on such a property.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Fairbourne. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Fairbourne to see if the conveyancing will be more expensive.
I am looking to sell my home. My former solicitors has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Fairbourne if that affects matters.
Please use our search tool to help you find a solicitor for your conveyancing in Fairbourne. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
We are a couple of weeks into a residential purchase having been recommend to conveyancers by the high street agent to do our conveyancing in Fairbourne. I am am extremely frustrated with the level of service. Can you you assist me in finding new lawyers?
They would have to be really bad to suggest diss instructing them. Has the loan offer been sent? If so you must advise them of the new contact details and have the mortgage documents are re-sent. Your conveyancer needs to be on the lenders approved list to avoid added costs and frustration. So that should be your first question of the new conveyancers. Our search tool should assist you in finding a lender approved solicitor for your conveyancing in Fairbourne
What are your top tips when it comes to choosing a Fairbourne conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Fairbourne conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you talk with two or three firms including non Fairbourne conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
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How many lease extensions has the firm conducted in Fairbourne in the last year? How experienced is the firm with lease extension legislation?
Leasehold Conveyancing in Fairbourne - A selection of Queries Prior to buying
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What is the yearly service fee and ground rent? Be sure to discover if the the lease includes any unreasonable restrictions in the lease. By way of example plenty of leases prohibit pets being permitted in certain buildings in Fairbourne. If you love the flatin Fairbourne however your dog is not allowed to move with you then you have a very hard compromise.