My fiance and I are refinancing our maisonette in Martlesham with Virgin Money. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose 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 repossessed. I have two concerns (1) Is this document specific to the Virgin Money conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this compromise his entitlement 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 Virgin Money. This is solely used to protect Virgin Money 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 Virgin Money 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're in Martlesham, FTBs purchasing with a mortgage (lender is Bank of Ireland , and our solicitor is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer 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.
What is the difference between a licensed conveyancer and conveyancing solicitor in Martlesham
There are many registered licenced Conveyancers in Martlesham and Solicitor practices in Martlesham offering conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. They may both also conduct associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
When it comes to lenders such as Yorkshire BS, do Martlesham conveyancing practitioners incur an annual charge to be on the list of approved solicitors?
We are unaware of any bank fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
It is unclear whether my mortgage offer requires a lease extension. I have telephoned my Martlesham building society branch on numerous occasions and was informed it wasn't an issue and they would lend. My Martlesham conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. I simply don't know who is right.
As long as the conveyancer is on the bank panel, she or he must adhere to the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
A colleague suggested that if I am purchasing in Martlesham I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Martlesham conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about Martlesham around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Martlesham Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information concerning Martlesham.
I used Wolstenholmes a few years past for my conveyancing in Martlesham. Now, I need my files however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Martlesham of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm remortgaging my primary house to a BTL mortgage with Leeds Building Society and intend to use the remaining equity as a deposit on a second property. The area we are interested in is Martlesham. Will your solicitors be able to act for the two banks and link together the two deals?
Make use of our search tool on this site to check that the conveyancers are on the relevant lender panels. On the basis that they are the solicitor will be able to connect the two deals but you should talk with you conveyancer and make apparent your expectations and needs.