I am expecting a mortgage offer from Nat West. I would like to instruct a Licensed Conveyancer in Grasmere. Does the Nat West Conveyancing panel allow for conveyancers regulated by the CLC?
The Nat West conveyancing panel is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
My partner and I swapping mortgage lender for our flat in Grasmere with Santander. We have a son 18 who lives at home. Our solicitor has asked us to disclose 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 property is repossessed. I have two concerns (1) Is this form unique to the Santander conveyancing panel as he did not need 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?
First, rest assured that your Santander 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 Santander. This is solely used to protect Santander 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 Santander 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.
What is the difference between a licensed conveyancer and conveyancing solicitor in Grasmere
There are many recorded licenced Conveyancers in Grasmere and Solicitor firms in Grasmere to choose from It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal work in the home buying process. The two can conduct associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
We were going to get a DIP from Clydesdale this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Clydesdale recommend any Grasmere solicitors on the Clydesdale conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Grasmere solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
I can not fathom if my mortgage offer requires a lease extension. I have called into my local Grasmere bank branch on numerous occasions and was told they are content with the situation and they will lend. My Grasmere conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
As long as the lawyer is on the bank panel, she or he must comply with the Council of Mortgage Lenders’ Handbook requirements for the bank. 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Should our conveyancer be raising enquiries concerning flooding during the conveyancing in Grasmere.
Flooding is a growing risk for conveyancers dealing with homes in Grasmere. Plenty of people will purchase a property in Grasmere, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, but there are a numerous searches that may be initiated by the buyer or by their lawyers which will figure out the risks in Grasmere. The standard completed inquiry forms sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the owner to find out if the premises has historically flooded. If flooding has previously occurred which is not revealed by the seller, then a buyer could issue a compensation claim as a result of such an incorrect response. A purchaser’s solicitors may also conduct an environmental search. This should disclose whether there is any known flood risk. If so, more detailed inquiries should be initiated.
How does conveyancing in Grasmere differ for new build properties?
Most buyers of new build property in Grasmere approach us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is built. This is because builders in Grasmere usually buy the real estate, 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 conveyancers 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 accustomed to new build conveyancing in Grasmere or who has acted in the same development.
In my capacity as executor for the will of my grandmother I am selling a property in Cardiff but reside in Grasmere. My conveyancer (who is 235 miles awayhas requested that I execute a statutory declaration ahead of completion. Could you suggest a conveyancing solicitor in Grasmere to witness this legal document for me?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are located in Grasmere