My wife and I intend to remortgage our apartment in St Pancras 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 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 flat is repossessed. I have two questions (1) Is this form unique to the HSBC conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right 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 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.
Completed the sale of my flat in St Pancras last January yet the purchaser is whats apping every few hours complaining that their lawyer needs to hear from mysolicitor. What should my lawyer have done following completion?
Post completion of your disposal your lawyer is obliged to send the transfer documentation and all additional paperwork to the buyer’s solicitors. Depending on the transaction, your lawyer must also confirm that the mortgage has been redeemed to the buyers conveyancers. There are no post completion formalities specific conveyancing in St Pancras.
We are aiming to move home in November. Will my conveyancing solicitor communicate with the removal company on the completion day. Incidentally, can you put forward a removal company in St Pancras. Conveyancing solicitor was chosen prior to coming across your site.
On the afternoon of completion you will need to pick up the keys from the selling agent however this should only happen after the sellers conveyancers advise the agent that they have the completion monies and the keys can be passed over. Subsequently you can inform the removal men that you are ready to move in. As a matter of policy we do not recommend a specific removal organisation but can help you choose a conveyancing in St Pancras or a solicitor with expertise in conveyancing in St Pancras.
We expect to receive a DIP from Santander this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Santander recommend any St Pancras solicitors on the Santander conveyancing panel, or is it better to find our own lawyer?
You will need to appoint St Pancras solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my St Pancras building society branch on a couple of occasions and was advised it wasn't a problem and they will lend. My St Pancras conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. I have no idea who is right.
Provided that the conveyancing practitioner is on the mortgage company approved list, she or he must adhere to the CML Handbook conditions for the 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am buying a new build house in St Pancras benefiting from help to buy. The developers would not reduce the price so I negotiated 6k of fixtures and fittings instead. The property agent advised me not to tell my lawyer about the deal as it would impact my mortgage with Leeds Building Society. Do I keep my lawyer in the dark?.
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.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a simple, no chain conveyancing. St Pancras is where the house is located. Is there any advice you can impart?
Flying freeholds in St Pancras are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in St Pancras 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 St Pancras may determine 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 residence.
We recently discovered that one of the directors of the conveyancing practice undertaking the purchase conveyancing in St Pancras is a relative of the owners that we are purchasing from. Is this allowed?
As long as no conflict arises this should be fine. Where you are obtaining a mortgage then the lender may have a say as many lenders have specific requirements on this. For example for RBS - Direct Line as of 20/9/2020, the requirements read as follows :