My wife and I swapping mortgage lender for our apartment in Holmrook with Principality. We have a son 18 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 property is repossessed. I have two concerns (1) Is this document specific to the Principality conveyancing panel as he never had to sign this form when we bought 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 Principality. This is solely used to protect Principality 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 Principality 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.
We see that you have a post code search directory identifying solicitors on the Lloyds conveyancing panel. Do firms pay you a referral fee if I appoint them for our own conveyancing in Holmrook?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Holmrook.
We're in Holmrook, FTBs buying with a mortgage (lender is RBS , and our lawyer is on the RBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the RBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Are there any apps to assist me to search for a Holmrook solicitor on the National Westminster Bank conveyancing panel? I drive a motor bike and am happy to travel upto 25miles to meet the lawyer.
You can use the facility on this page. Please pick a lender and your location and you will see a number of Holmrook conveyancing lawyers locally. We have detailed some Holmrook conveyancing firms towards the end of this page and you can call them to verify if they are on the National Westminster Bank panel
I have been sourcing a conveyancing solicitor in Holmrook for my purchase. Is there any facility to check a firm’s record with the legal regulator?
You may find published Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Visit Check a solicitor's record. For details Pre 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The regulator may recorded telephone calls for training reasons.
I am hoping to exchange soon on a ground floor flat in Holmrook. Conveyancing solicitors have said that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Holmrook should include some of the following:
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What options are open to you if another tenant in the building is in violation of a provision in their lease? Repair and maintenance of the premises What remedies are open the freeholder should you have contravened the provisions of the lease? The total extent of the property. This will be the property itself but may incorporate a loft or basement if applicable. Details of the parties to the lease, for instance these could be the (you), head lessor, freeholder
Holmrook Conveyancing for Leasehold Flats - A selection of Queries before buying
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The majority of Holmrook leasehold properties will be liable to pay a service charge for maintenance of the block set by the freeholder. If you purchase the flat you will have to meet this liability, usually periodically during the year. This may be anything from two or three hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a rentcharge to be met yearly, ordinarily this is not a large amount, say around £50-£100 but you should to enquire it because on occasion it could be prohibitively expensive. If a Holmrook lease has fewer than eighty years it will have adverse implications on the value of the apartment. It is worth checking with your mortgage company that they are happy with remaining years on the lease. A short lease means that you will probably require a lease extension at some point and it is worth finding out what this would cost. For most Holmrooklease extensions you would be be obliged to have owned the property for 24 months in order to be legally able to exercise a lease extension. Its a good idea to find out as much as possible about the managing agents as they can either make life much easier or problematic. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to every day issues such as the tidiness of the common parts. Ask prospective neighbours whether they are happy with their management. In conclusion, be sure you understand the dates that you are obliged pay the maintenance charge to the relevant party and precisely how they are spending the funds.