My husband and I are refinancing our flat in Llanrumney with RBS. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 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 property is forfeited by the lender. I have a couple of questions (1) Is this document specific to the RBS conveyancing panel as he never had to sign this form when we remortgaged 4 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 RBS. This is solely used to protect RBS 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 RBS 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.
Finally the sale completed on my house in Llanrumney last January yet the purchaser is whats apping every few hours to moan that her lawyer needs to hear from mine. What are the post completion sale legalities now that I have sold?
Following your sale your lawyer is committed to deliver the transfer documentation and all supplemental paperwork to the purchaser's lawyers. If applicable, your lawyer should also send confirmation that the home loan has been repaid to the buyers conveyancers. There are no post completion tasks specific conveyancing in Llanrumney.
What is the difference between a licensed conveyancer and conveyancing solicitor in Llanrumney
There are many registered licenced Conveyancers in Llanrumney and Solicitor firms in Llanrumney who provide Conveyancing services We would stress that both are regulated professionals specialising in the legal work in transferring property. Both can conduct associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
My bid for a property was accepted at auction in Llanrumney. Conveyancing is needed. What happens now?
Given that you are now legally bound yourself to purchase you must hire the services of a conveyancing solicitor as a matter of priority as you will have a pending a drop dead date to complete the purchase. An auction property should have a bespoke legal set of papers. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the conveyancing pack may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You should hand this to your appointed conveyancing solicitor ASAP. Do make sure that that you have the requisite funding in place to complete on the on the contractual date .
I am expecting a AIP from TSB this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do TSB recommend any Llanrumney solicitors on the TSB conveyancing panel, or is it better to go independently?
You will need to appoint Llanrumney solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
It has been 4 months since my purchase conveyancing in Llanrumney completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. 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.
I am purchasing a new build house in Llanrumney with the aid of help to buy. The sellers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not to tell my conveyancer about this side-deal as it will affect my mortgage with HSBC Bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the guidance of my in-laws I had a survey completed on a property in Llanrumney in advance of instructing lawyers. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some banks may not issue a loan on such a property.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. Should you wish to telephone us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Llanrumney. Conveyancing will be smoother if you use a solicitor in Llanrumney especially if they regularly deal with such properties in Llanrumney.