My wife and I are refinancing our penthouse in Maryport with Santander. 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 flat is repossessed. I have two concerns (1) Is this document specific to the Santander conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Santander 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 Santander. This is solely used to protect Santander 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 Santander 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 note that you have a search directory identifying law firms on the Lloyds conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Maryport?
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 Maryport.
My husband and I are hoping to buy a newbuild flat in Maryport with a residential mortgage from National Westminster Bank.We have a Maryport conveyancing practitioner but National Westminster Bank advised that her practice is not on their approved list of member firms. We have to appoint a National Westminster Bank panel solicitor or retain our high street solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The home loan issued to you is subject to its various provisions, a common one being that solicitors needs to be on the National Westminster Bank conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for National Westminster Bank
A friend suggested that if I am purchasing in Maryport I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Maryport conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Maryport around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Maryport Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful data about Maryport.
My company is planning to take an assignment of a lease of a shop on the high street. Can you recommend lawyers offering competitive charges for non-domestic conveyancing in Maryport for less than £1,200?
We can recommend firms who have well rounded knowledge of commercial conveyancing in Maryport, including the sale and acquisition of businesses as well as simply premises. Whether you are looking to acquire or sell a shop, pub, restaurant, office, retail premises or a complete business we can put you in touch with the right firm. As for the costs this will depend on the structure and heads of terms of the deal. Please provide us with your contact information or telephone so as to enable us to supply you with comprehensive commercial conveyancing calculation.
Should I use a Maryport conveyancing solicitor based in the vicinity that I am hoping to buy? I have an old university friend who can perform the legal work however they are based 200kilometers drive away.
The primary upside of using a local Maryport conveyancing practice is that you can drop in to execute documents, present your identification documents and apply pressure on them if necessary. They will also have local intelligence which is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were impressed that should surpass using an unknown Maryport conveyancing lawyer solely due to them being based in the area.