My husband and I changing mortgage lender for our penthouse in Farnham 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. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of questions (1) Is this document specific to the Leeds Building Society conveyancing panel as he did not need to sign this form when we remortgaged 5 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 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.
Can you clarify what the consequences are if my solicitor is suspended from the Aldermore Conveyancing panel ahead of completing my conveyancing in Farnham?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I decided to have a survey done on a house in Farnham ahead of appointing solicitors. I have been informed that there is a flying freehold element to the property. My surveyor has said that some banks may not give a loan on this type of premises.
It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Farnham. Conveyancing will be smoother if you use a solicitor in Farnham especially if they are familiar with such properties in Farnham.
I am looking to sell my home. My past lawyers have shut. I would be grateful for any recommendation of a conveyancing firm. Im based in Farnham if that affects matters.
Do use our search tool to help you choose a solicitor for your conveyancing in Farnham. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
I am looking for a conveyancing lawyer in Farnham for my home move. Is it possible to see a solicitor's record with the legal regulator?
Members of the public can review published Solicitor Regulator Association (SRA) decisions stemming from inquisitions commenced on or after 1 January 2008. Go to Check a solicitor's record. To find information about the period before 1 January 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The SRA could recorded telephone calls for training reasons.
Are the Farnham conveyancing lawyers identified as being on the mortgage company conveyancing panel, together with their details provided by the mortgage company?
Farnham firms and firms carrying out conveyancing in Farnham themselves provide us confirmation that they are on the lender conveyancing panel as opposed to being supplied with a list from the mortgage company directly.