I am not well enough to travel far from Harold Park. Is there a reason why all Harold Park conveyancing practitioners are not on all lender panels?
Even though it may seem unfair for mortgage companies to limit who can act for them, from the public’s or conveyancer’s point of view, the the contrary view is that lending institutions are becoming ever more anxious and feel it crucial to shield themselves from mortgage fraud. As a consequence of this concern lenders have restricted their panel of approved conveyancing lawyers to a size that they are happy to control.
My fiance and I intend to remortgage our penthouse in Harold Park with Lloyds. We have a son approaching twenty who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have a couple of concerns (1) Is this form unique to the Lloyds 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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 I use your services to find a Conveyancing solicitor in Harold Park even if I’m not purchasing or selling a house, for example where I wish to buy a shop in Harold Park with a loan from Barclays Direct?
Our comparison service is mainly used to find residential conveyancing solicitors in Harold Park but we have listed towards the end of this page some Harold Park commercial conveyancing firms. You should enquire with the solicitors directly to check if they are also authorised to represent Barclays Direct
Having invested time looking at mumsnet.com for a recommended solicitor in Harold Park, most comment that I should use a CQS accredited solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in buying or selling property, trusted by some of the UK's biggest banks. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). CQS is not a scheme offered by the Council of Licensed Conveyancing. Harold Park is one of the numerous areas in England and Wales where there are Accredited lawyers.
What does a local search reveal about the property my wife and I purchasing in Harold Park?
Harold Park conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company for instance Searchflow The local search plays an important part in many a Harold Park conveyancing purchase; that is if you don’t want any nasty once you have moved into your new home. The search will reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Harold Park is the location of the property. Is there any advice you can impart?
Flying freeholds in Harold Park are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Harold Park you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Harold Park may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.