My partner and I changing mortgage lender for our flat in Gateshead with Coventry BS. 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 property is forfeited by the lender. I have two questions (1) Is this form unique to the Coventry BS conveyancing panel as he did not need to sign this form when we bought 5 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 Coventry BS 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 Coventry BS. This is solely used to protect Coventry BS 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 Coventry BS 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.
Why do I have to pay up front for my conveyancing in Gateshead?
If you are buying a property in Gateshead your lawyer will request that you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is payable against the total price then this will be asked for shortly before exchange of contracts. The final balance that is due should be transferred a few days prior to the completion date.
We are intent on selling our home in Gateshead and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A local conveyancer would know this is not the case. It does beg the question why the purchasers used an internet conveyancing practice rather than a conveyancing solicitor in Gateshead. Having lived in Gateshead for six years we know that this is a non issue. Should we get in touch with our local Authority to seek clarification need.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I used Action Conveyancing several years ago for my conveyancing in Gateshead. I now require my papers but the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Gateshead of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm purchasing a new build house in Gateshead with a loan from Birmingham Midshires. The sellers refused to move on the price so I negotiated £7000 of extras instead. The estate agent told me not disclose to my conveyancer about the deal as it could affect my mortgage 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.
What can I expect to pay for conveyancing in Gateshead?
The amount you are charged for conveyancing in Gateshead are likely to be calculated at:
- a fixed fee; or
- an hourly rate (i.e. the time spent on the particular case).
In practice very few Gateshead conveyancing firms invoice by the clock