My husband and I changing mortgage lender for our apartment in Rainham with HSBC. We have a son 18 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this form unique to the HSBC conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
First, rest assured that your HSBC 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 HSBC. This is solely used to protect HSBC 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 HSBC 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 see that you have a post code search directory listing law firms on the HSBC conveyancing panel. Do firms pay you a commission if I instruct them for our conveyancing in Rainham?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Rainham.
What is your number one tip for finding a conveyancing solicitor in Rainham
Do not opt for the cheapest Rainham conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
After weeks of negotiation I have agreed a price on a house in Rainham. My financial adviser suggested a property lawyer. I paid an on account payment of £175. A few days later, the property lawyer called me sheepishly admitting that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
UBS have agreed my mortgage in principle, my bid on a house in Rainham has been agreed to, what happens next?
Your estate agent will need to be informed of your solicitor's details (ensure that the conveyancers are on the lender’s panel). Call up UBS or the broker and finalise any appropriate forms. UBS will appoint a valuer who will get in touch with the estate agent or owners to schedule a slot for the valuation to happen. Once conducted (assuming no problems) it takes about a fortnight to get a mortgage offer. UBS will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Rainham.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Rainham is the location of the property. Can you offer any guidance?
Flying freeholds in Rainham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Rainham you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rainham 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 premises.
My husband and I are a couple of weeks into a residential purchase having been referred to solicitors by the local agent to perform conveyancing in Rainham. I am am starting to be dissatisfied with the quality of service. Could you you assist me in finding new conveyancers?
A conveyancer would need to be very poor to suggest replacing them. Has the mortgage been generated? If so you will need to inform them of the new lawyer and get the mortgage documents are re-issued. The conveyancer needs to be on the banks approved list to avoid escalating costs and delays. That should be your starting point. Our search tool will help you find a lender approved solicitor for your conveyancing in Rainham
We are buying a 2 room apartmentin Rainham with a residential mortgage from a mortgage company. We have selected a lawyer in Rainham however our mortgage company says she’s not listed on their "panel". We have to appoint one of the our lender panel solicitors or keep our Rainham solicitor and incur the extra costs for one of their panel ones to represent our mortgage company. This seems very unfair; is there anything we can do?
Unfortunately,no. The bank mortgage issued is subject to its terms and conditions, one of which will be that solicitors will on the bank's conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels, including many conveyancing solicitors in Rainham : a mortgagee could choose 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for your lender.