My partner and I are refinancing our maisonette in St Annes with Nottingham. We have a son approaching twenty who lives at home. 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 property is repossessed. I have a couple of concerns (1) Is this form unique to the Nottingham conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Nottingham 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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 aunt passed away last year and as sole heir and executor I was left the property in St Annes. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Principality, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Principality will insist on your using a conveyancer on the Principality 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 Principality 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 Principality mortgage is registered as a charge at the Land Registry.
I'm purchasing my first flat in St Annes with a mortgage from National Westminster Bank. The developers refused to move on the amount so I negotiated £7000 of additionals instead. The estate agent suggested that I not inform my conveyancer about this deal as it may adversely affect my mortgage with National Westminster Bank. Is this normal?.
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.
Due to the guidance of my in-laws I had a survey completed on a property in St Annes prior to instructing lawyers. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some lenders will refuse to give a mortgage on such a house.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. Should you wish to call us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in St Annes. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in St Annes to see if the conveyancing will be more expensive.
Is it simple use your search tool to select a conveyancing lawyer in St Annes on the panel for my mortgage?
1st select a lender such as Lloyds TSB Bank, Bank of Scotland or Nottingham Building Society then choose your location for instance St Annes. Conveyancing practices in St Annes and across England and Wales should be identified.
In surfing the world wide web for the words on line conveyancing in St Annes it shows results of numerous property lawyersin the area. With so much choice what is the best way to find the suitable property lawyer for the sale of my house?
The best method of finding the right conveyancer is through a personal testimonial, so seek the counsel of colleagues and family who have bought a property in St Annes or the local estate agent or financial adviser. Charges for conveyancing in St Annes vary, so it's sensible to obtain at least four fee estimates from varying types of law firms. Make sure that you clarify that the fees are fixed.