My fiance and I intend to remortgage our maisonette in Hyde with Lloyds. 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 property is repossessed. I have a couple of concerns (1) Is this document specific to the Lloyds conveyancing panel as he never had to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Lloyds 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 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.
When reviewing consumer advice sites for an affordable lawyer in Hyde, many say that I should instruct a CQS assured lawyer. Can you explain what CQS is?
Hyde Conveyancing Quality Scheme law firms have been granted certification by the law Society The Law Society created CQS to establish evidence of quality standards in the in the legal transfer of properties. CQS enables home movers to recognise practices that provide a quality residential conveyancing. Hyde is one of the many areas in England and Wales in which accredited firms have a presence. The conveyancing scheme obliges law firms to undergo a strict assessment, compulsory training, self-certification, spot checks and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Association of British Insurers.
Should my conveyancer be raising questions regarding flooding during the conveyancing in Hyde.
Flooding is a growing risk for lawyers dealing with homes in Hyde. Some people will buy a property in Hyde, completely aware that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a various searches that may be undertaken by the purchaser or by their conveyancers which can figure out the risks in Hyde. The conventional set of property information forms sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a standard question of the owner to find out if the property has suffered from flooding. In the event that the property has been flooded in past which is not revealed by the vendor, then a buyer could commence a legal claim for losses stemming from an inaccurate response. The purchaser’s lawyers may also conduct an enviro report. This will higlight whether there is any known flood risk. If so, more detailed inquiries should be conducted.
four months have gone by since my purchase conveyancing in Hyde concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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 property 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.
I am looking for a flat up to £305k and identified one near me in Hyde I like with open areas and station nearby, the downside is that it's only got 52 years on the lease. There is not much else in Hyde in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan the remaining unexpired lease term may be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I am selling my house. My previous lawyers has retired. I would be grateful for any recommendation of a conveyancing firm. Im based in Hyde if that makes things easier.
Do use our search tool to help you find a solicitor for your conveyancing in Hyde. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.