My partner and I are refinancing our maisonette in St Austell with UBS. We have a son approaching twenty 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, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this document specific to the UBS conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this compromise his rights 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 UBS. This is solely used to protect UBS 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 UBS 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 are looking to buy a flat and require a conveyancing solicitor in St Austell who is on the Bank of Ireland conveyancing panel. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Bank of Ireland . We don't recommend any particular firms conducting conveyancing in St Austell.
Various internet forums that I have come across warn that are the primary reason for obstruction in St Austell house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays in the conveyancing process. Searches are unlikely to be the root cause of delay in conveyancing in St Austell.
How does conveyancing in St Austell differ for new build properties?
Most buyers of new build residence in St Austell come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because house builders in St Austell tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in St Austell or who has acted in the same development.
I opted to have a survey completed on a property in St Austell ahead of retaining solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some banks may not issue a loan on such a premises.
It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. Should you wish to telephone us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in St Austell. Conveyancing will be smoother if you use a solicitor in St Austell especially if they regularly deal with such properties in St Austell.
My cousin has suggested that I instruct his lawyers for conveyancing in St Austell. Should I choose my own solicitor?
No doubt it’s preferable to select a conveyancing practitioner is to have recommendations from friends or family who have actually used the firm that you are are thinking of instructing.