I am getting a mortgage with Lloyds. I intend to retain the legal services of a Licensed Conveyancer in Highgate. Does the Lloyds Solicitor panel exclude conveyancers regulated by the CLC?
The Lloyds approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My wife and I intend to remortgage our flat in Highgate with Coventry BS. We have a son 19 who lives with us. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. 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 a couple of questions (1) Is this form unique to the Coventry BS conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) Does our son by signing this extinguish his entitlement 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.
As someone not used to conveyancing in Highgate what’s your top tip you can give me for the legal transfer of property in Highgate
Not many law firms or advisers will tell you this but conveyancing in Highgate or throughout England and Wales is an adversarial experience. In other words, when it comes to conveyancing there is an abundance of opportunity for confrontation between you and other parties involved in the house moving process. E.g., the vendor, estate agent and on occasion a bank. Appointing a solicitor for your conveyancing in Highgate is a critical decision as your conveyancer is your adviser, and is the ONLY person in the process whose responsibility is to protect your legal interests and to keep you safe.
We are witnessing a definite ongoing adversarial element to conveyancing- someone has to be at fault for the process taking so long. You your first instinct should be to trust your lawyer ahead of all other players when it comes to the legal assignment of property.
I happen to be the only beneficiary of my late grandmother’s estate with all property in now in my sole name, including the house in Highgate. The Highgate property was put into my name in March. I plan to dispose of the property. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship could be regarded the same way as though I had purchased the house in March. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. Most lenders would take a practical view as this requirement principally exists to pick up on subsales or the quick reselling of property.
I had a mortgage agreed in principle with Coventry BS. Highgate conveyancing lawyers are appointed. How long does it take for Coventry BS to forward the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Coventry BS conducted the valuation? Have you informed Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have paid off my mortgage with Leeds Building Society. I assume I don't need a Highgate conveyancing practitioner on the Leeds Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
What does commercial conveyancing in Highgate cover?
Commercial conveyancing in Highgate covers a broad range of services, provided by regulated solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
Am I best advised to use a Highgate conveyancing lawyer based in the location that I am hoping to buy? An old friend can execute the legal formalities however his firm is located 400kilometers drive away.
The benefit of a local Highgate conveyancing practice is that you can pop in to execute paperwork, present your identification documents and apply pressure on them if necessary. They will also have local insight which is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and they were impressed that should surpass using an unknown Highgate conveyancing lawyer solely due to them being local.