My wife and I intend to remortgage our flat in Sutton On Sea with Virgin Money. 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. Our lawyer has now e-mailed a document for our son to sign, giving up any 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 Virgin Money conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Virgin Money 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 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.
I am helping my mother sell her flat in Sutton On Sea. Does the solicitor commission an EPC or it is for me to see to?
After the demise of HIPs, energy performance certificates was kept a mandatory part of selling a property. An energy assessment should be commissioned before the property is placed on the market. It is not something that solicitors normally organise. Where you are instructing a Sutton On Sea conveyancing solicitor they may be willing to arrange energy performance certificates given their relationships with long established local providers
My bid for a property was accepted at auction in Sutton On Sea. Conveyancing is necessary. What are my next steps?
Now that you are exchanged you should choose a conveyancing practitioner soon as you are facing a fast approaching a drop dead date to complete the purchase. All auction property will ordinarily have an associated legal set of papers. This will likely include most,if not all of the paperwork that your solicitor will need. Where you are dealing with leasehold property the auction pack should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You must hand this to your appointed conveyancing solicitor ASAP. Do make sure that your finances are in order to complete the transaction on the set completion date.
I am due to exchange contracts on my apartment. I had a double glazing fitted in October 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Santander are being a right pain. The Sutton On Sea solicitor who is on the Santander conveyancing panel is recommending indemnity insurance as a solution but Santander are insisting on a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The deeds to my home can not be found. The conveyancers who conducted the conveyancing in Sutton On Sea 4 years ago no longer exist. What do I do?
These day there are copies made of almost everything, and your conveyancer will be aware exactly where to look for all the appropriate paperwork so you may buy or dispose of your house without any difficulty. Where duplicates can’t be found, your conveyancer can arrange cover in the form of insurance or indemnities protecting you against future claims on your property.
I am buying a new build house in Sutton On Sea with a loan from Skipton Building Society. The developers would not budge the amount so I negotiated £7000 of extras instead. The property agent suggested that I not to tell my lawyer about the extras as it may jeopardize my loan with the lender. Should I keep quiet?.
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 input of my in-laws I had a survey completed on a house in Sutton On Sea in advance of retaining solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some mortgage companies may refuse to give a loan on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. If you e-mail us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Sutton On Sea. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Sutton On Sea to see if the conveyancing costs will increase in light of this.
My husband and I are a fortnight into a residential purchase having been directed to conveyancers by the local agent to perform conveyancing in Sutton On Sea. I am am extremely disappointed with the level of service. Can you you assist me in finding new lawyers?
A solicitor would have to be very poor in order to consider changing them. Has the loan offer been sent? In the event that it has you will need to make them aware of the new solicitor and get the offer are issued to the new lawyers. Your conveyancer needs to be on the lenders approved list to avoid supplemental fees and complications. So that should be your starting point. Our search tool will help you find a bank approved lawyer for your home move in Sutton On Sea