My fiance and I swapping mortgage lender for our penthouse in Haverhill with Co-operative. 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 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 forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Co-operative conveyancing panel as he never had 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?
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 Co-operative. This is solely used to protect Co-operative 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 Co-operative 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 just acquired a flat at auction in Haverhill. Conveyancing is necessary. What are my next steps?
Having for in every practical sense signed on the dotted line you should hire the services of a conveyancing practitioner quickly as you now have a tight a drop dead date to complete the transaction. All auction property will have a corresponding auction pack. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold premises the auction papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You should hand this to the solicitor instructed by you ASAP. You also need to ensure that your finances are in order to complete the transaction on the set completion date.
Are all Haverhill Conveyancing Quality Solicitors on the UBS conveyancing list of approved solicitors?
Some major banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
Having digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Haverhill solicitor - who is on the Coventry BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Haverhill surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
We are planning on selling our house in Haverhill and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any local lawyer would know this is not the case. It does beg the question why the purchasers are using an internet conveyancing practice rather than a conveyancing solicitor in Haverhill. Having lived in Haverhill for 4 years we know of no issue. Is it a good idea to get in touch with our local Authority to seek clarification that there is no issue.
It sounds as though you may have a conveyancing solicitor already. What do they say? You should check with 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 life insurance to cover that same illness)
2 months have gone by following my purchase conveyancing in Haverhill took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one close by in Haverhill I like with amenity areas and railway links nearby, however it only has 52 years on the lease. I can't really find anything else in Haverhill in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the shortness of the lease will be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
Is it necessary during the course of the conveyancing process to visit the offices of the bank conveyancing panel solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Haverhill so that I can attend their offices when needed.
Most conveyancing panel lawyers for the bank undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. YOu dont have to use a conveyancing solicitor in Haverhill. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.