My partner and I changing mortgage lender for our flat in Great Missenden with Bank of Ireland. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults 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 apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the Bank of Ireland conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Bank of Ireland 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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.
I purchased a freehold premises in Great Missenden but still pay rent, why is this and what is this?
It is rare for properties in Great Missenden and has limited impact for conveyancing in Great Missenden but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
We previously appointed conveyancing lawyers with offices in Great Missenden on the TSB solicitor approved list. They are now charging me an additional charge for handling the TSB mortgage. Is this an additional conveyancing fee specified by TSB?
Provided it is contained in their Terms and Conditions or Quote then yes your property lawyer may charge a fee for this. The charge is not dictated by TSB but by your Great Missenden conveyancing practitioner. Plenty of firms on the TSB panel will charge ’dealing with mortgage’ fee but plenty of firms incorporate it on their overall fee.
Last month we had a mortgage agreed in principle with Co-operative. Great Missenden conveyancing solicitors were appointed. How long does it take for Co-operative to send the offer to the lawyer?
Some lenders take longer than others. Have Co-operative done the valuation? Have you informed Co-operative as to your lawyers' details and checked that your lawyers are on the Co-operative conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I recently had an offer accepted on a house in Great Missenden. My financial adviser suggested a conveyancer. I paid an upfront payment of £200. Shortly after, the lawyer contacted me embarrassingly acknowledging that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I'm purchasing a new build house in Great Missenden benefiting from help to buy. The sellers would not reduce the amount so I negotiated £7000 of additionals instead. The sale representative told me not disclose to my lawyer about this deal as it could affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
My company is looking to lease a unit on the high street. Can you recommend solicitors offering no-sale-no costs for non-domestic conveyancing in Great Missenden for below £2000?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Great Missenden, including the disposal and acquisition of businesses as well as simply premises. If you are hoping to buy or sell a shop, pub, restaurant, office, retail premises or a whole business we can put you in touch with the right lawyer. As for the charges these will vary based on the structure and complexity of the deal. Let us have your details or call us so that we may supply you with comprehensive commercial conveyancing calculation.
Can a conveyancer remove a person from the title of my property in Great Missenden ?
Subtracting or adding someone to the title of your property is relatively straightforward. You’ll need to appoint a solicitor to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a conveyancer