My fiance and I changing mortgage lender for our maisonette in Parkstone with Co-operative. We have a son 19 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 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 concerns (1) Is this form unique to the Co-operative conveyancing panel as he never had to sign this form when we bought 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Co-operative 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 Co-operative. This is solely used to protect Co-operative 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 Co-operative 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.
Do I have to attend the offices of the solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Parkstone so that I can attend their offices when needed.
Nowadays approved lawyers for banks carry out the vast majority of communications via Royal Mail, e-mail or over phone calls. This enables them to undertake the legal work for your home move regardless of where you live in the country. That being said you should see if you can still book an appointment to visit conveyancing lawyer if you prefer.
I am buying a new build house in Parkstone benefiting from help to buy. The developers refused to reduce the price so I negotiated 6k of additionals instead. The estate agent suggested that I not reveal to my lawyer about this deal as it will adversely affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I have been on the look out for a flat up to £235,500 and identified one close by in Parkstone I like with amenity areas and station nearby, the downside is that it only has 52 years on the lease. There is not much else in Parkstone suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the shortness of the lease may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
Am I better off to go with a Parkstone conveyancing practitioner based in the area that I am buying? We have a good friend who can perform the conveyancing but they are based 300miles drive away.
The primary upside of using a local Parkstone conveyancing practice is that you can drop in to execute documents, present your identification documents and pester them where appropriate. Having local Parkstone know how is a plus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and they were happy that should surpass using an unfamiliar Parkstone conveyancing lawyer solely due to them being based in the area.
Can a conveyancer remove a name from the title of my home in Parkstone ?
Removing or adding someone to the title of your property is relatively straightforward. You’ll need to appoint a property lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a conveyancer