My husband and I swapping mortgage lender for our penthouse in Salford 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 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 property is forfeited by the lender. I have two questions (1) Is this form unique to the Virgin Money conveyancing panel as he never had to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his entitlement 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 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.
My grandmother passed away last year and as sole heir and executor I was left the house in Salford. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then HSBC will insist on your using a conveyancer on the HSBC conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your HSBC conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the HSBC mortgage is registered as a charge at the Land Registry.
Is there a list of Aldermore panel solicitors in Salford on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lenders make their panel listings visible on the web. If you are seeking to appoint a Salford conveyancing practitioner on the Aldermore please make the most of our facility.
My fiancee and I are in the throws of viewing apartments in Salford and I am now considering a potential offer. Is it premature to have a solicitor in place? I intend to finance via a mortgage with Bank of Ireland.
It would be wise to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are seeking a mortgage with Bank of Ireland, make sure you remember to check that your lawyer is on the Bank of Ireland conveyancing panel.
I can not work out if my mortgage offer requires a lease extension. I have telephoned my Salford building society branch on various occasions and was told it does not impact the mortgage offer and they would lend. My Salford conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The property lawyer must follow the CML Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Are there restrictive covenants that are commonly picked up during conveyancing in Salford?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Salford. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying a new build flat in Salford. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Salford
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Do I cancel the direct debit for my mortgage with Skipton once a completion date for my sale in Salford has been agreed?
You would be well advised to maintain paying any mortgage payments to Skipton pending the mortgage being redeemed on completion as part of your Salford conveyancing.