My partner and I changing mortgage lender for our penthouse in Midsomer Norton 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 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 flat is repossessed. I have two questions (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) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Virgin Money 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 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.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Midsomer Norton. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 3/10/2024, the requirements read as follows :
I need some quick conveyancing in Midsomer Norton as I am under an ultimatum to sign on the dotted line inside one month. A home loan is not required. Is it possible to escape the need for conveyancing searches to save money and time?
As you are not taking a mortgage you are at liberty not to do searches although no solicitor would suggest that you don't. With plenty of history conveyancing in Midsomer Norton the following are instances of what can crop up and adversely affect future mortgageability: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Unadopted Roads,...
I have justfound out that Stirling Law have closed. They conducted my conveyancing in Midsomer Norton for a purchase of a leasehold flat 18 months ago. How can I establish that the property is in my name in the name of the previous owner?
The easiest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Midsomer Norton conveyancing specialists.
Due to the encouragement of my in-laws I had a survey completed on a house in Midsomer Norton before instructing solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some banks will refuse to give a mortgage on a flying freehold home.
It depends who your proposed lender is. Santander has different requirements from Birmingham Midshires. Should you wish to call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Midsomer Norton. Conveyancing will be smoother if you use a solicitor in Midsomer Norton especially if they are familiar with such properties in Midsomer Norton.
Are there any apps to assist me to locate a Midsomer Norton law firm on the Yorkshire Building Society conveyancing panel? I am a keen cyclist and am prepared to travel upto 10kilometers to meet the lawyer.
Feel free to make use of the search on this website. Please select a mortgage company and your location and you will see a number of Midsomer Norton conveyancing lawyers located nearest you. We have listed some Midsomer Norton conveyancing firms towards the end of this page and you can call them to check if they are on the Yorkshire Building Society panel