My fiance and I intend to remortgage our flat in Neath Abbey with Santander. We have a son 19 who lives at home. 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, giving up any rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this document specific to the Santander conveyancing panel as he never had to sign this form when we remortgaged 5 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 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.
Last month we had a mortgage agreed in principle with Barclays. Neath Abbey conveyancing solicitors have been appointed. What is the average time that one could expect to receive a mortgage offer from Barclays?
Some lenders take longer than others. Have Barclays conducted the valuation? Have you informed Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We were going to get a AIP from Kent Reliance this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Kent Reliance recommend any Neath Abbey solicitors on the Kent Reliance conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Neath Abbey solicitors independently although you'll need to choose one on the Kent Reliance conveyancing panel. The solicitor represents both you and Kent Reliance through the process.
I am due to exchange contracts on my flat. I had a double glazing fitted in July 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Nottingham are being problematic. The Neath Abbey solicitor who is on the Nottingham conveyancing panel is recommending indemnity insurance as a solution but Nottingham are insisting on a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My relative advised me that if I am purchasing in Neath Abbey 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 occasionally quoted for as part of the standard Neath Abbey conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Neath Abbey around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Neath Abbey Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful data concerning Neath Abbey.
How does conveyancing in Neath Abbey differ for new build properties?
Most buyers of new build property in Neath Abbey come to us having been asked by the builder to exchange contracts and commit to the purchase even before the house is finished. This is because new home sellers in Neath Abbey typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Neath Abbey or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Neath Abbey is where the house is located. Can you shed any light on this issue?
Flying freeholds in Neath Abbey are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Neath Abbey you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Neath Abbey may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
We are four weeks into a residential purchase having been referred to a firm by the estate agent to carry out the conveyancing in Neath Abbey. I am am starting to be disappointed with the quality of service. Can you you assist me in finding new lawyers?
They would need to be very bad in order to consider diss instructing them. Has your loan offer been generated? If so you need to inform them of the replacement solicitor and have the loan are re-sent. Your new conveyancer needs to be on the lenders panel to avoid escalating fees and complications. So that should be your starting point. The search tool can help you find a lender approved solicitor for your conveyancing in Neath Abbey