My partner and I swapping mortgage lender for our maisonette in Queensbury with TSB. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have two concerns (1) Is this document specific to the TSB conveyancing panel as he never had to sign this form when we bought 4 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your TSB 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 TSB. This is solely used to protect TSB 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 TSB 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.
Will commercial conveyancing searches disclose impending roadworks that could affect a commercial property in Queensbury?
Its becoming the norm that commercial conveyancing solicitors in Queensbury will carry out a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Queensbury. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Queensbury.
For every commercial conveyancing transaction in Queensbury it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may cause delays to Queensbury commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Queensbury.
Me and my brother own a terraced Edwardian property in Queensbury. Conveyancing lawyer represented me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold under the exact same address. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Queensbury and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing practitioner who conducted the conveyancing.
I am buying a new build house in Queensbury with a loan from Birmingham Midshires. The builders would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not reveal to my conveyancer about this side-deal as it will put at risk my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Queensbury is the location of the property. Is there any advice you can give?
Flying freeholds in Queensbury are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Queensbury you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Queensbury may decide 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 property.
I'm remortgaging my primary property to a BTL loan with Godiva Mortgages Ltd and intend to use the remaining equity as a deposit on a second property. The neighborhood we are interested in is Queensbury. Will your solicitors be able to act for the two mortgage companies and tie in the conveyances?
Make use of our comparison tool on this site to be sure that the solicitors are on the appropriate lender panels. Having checked that they are the lawyer should be able to simultaneously deal with the two transactions but you should have a chat with you conveyancer and make clear your expectations and needs.