My husband and I intend to remortgage our maisonette in Tiptree with HSBC. We have a son 18 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this document specific to the HSBC conveyancing panel as he never had to sign this form when we bought 3 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your HSBC 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 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.
In what way does my ID and proof of funds have anything to do with my conveyancing in Tiptree? What am I being asked for?
In order to comply with Money Laundering Regulations any Tiptree conveyancing firm will require proof of identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account showing where you reside.
Under Money Laundering Regulations, conveyancers are duty bound to validate not simply the identity of conveyancing clients but also the source of fund that they receive in respect of any matter. Refusal to disclose this will lead to your conveyancer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to make a disclosure to the appropriate authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
A relative pointed out to me me that in buying a property in Tiptree there may be various restrictions preventing external alterations to a property. Is this right?
We are aware of anumerous of properties in Tiptree which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Tiptree should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We are due to move house in January. Will my conveyancing solicitor call the removal company on the completion day. Incidentally, can you put forward a removal company in Tiptree. Conveyancing lawyer was found prior to coming across your page.
On the afternoon of completion you can collect the keys from your selling agent however this should only be done once the previous owners conveyancers advise the agent that they acknowledge receipt of the completion payment and the keys can be released. Subsequently you will need to inform the removal men that you are ready to move in. We do not recommend a particular removal organisation but can help you find a residential property solicitor in Tiptree or a legal practice that specialises in conveyancing in Tiptree.
We are getting the release of further monies on our mortgage from Santander as we wish to carry out renovations to our home in Tiptree. Do we need to choose a high street Tiptree solicitor on the Santander conveyancing panel to handle the legals?
Santander don't usually appoint firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Santander list.
Just acquired a detached house in Tiptree , What is the estimated time for the Land Registry to record my proprietorship? My Tiptree conveyancing solicitor has been very slow, so I want to be sure the registration formalities are addressed.
There is nothing unique when it comes to conveyancing in Tiptree registration formalities. Rather than based on location, timescales can adjust depending on who lodges the application, whether it is in order and if the Land registry communicate with any interested parties. At present in the region of 80% of submission are fully addressed in less than three weeks but some can be subject to protracted hold-ups. Registration takes place after the purchaser is living at the property therefore 'speed' is not always top priority yet where there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Tiptree differ for new build properties?
Most buyers of new build residence in Tiptree contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is built. This is because house builders in Tiptree usually buy 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 property lawyers 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 accustomed to new build conveyancing in Tiptree or who has acted in the same development.
Why is it not possible to complete our conveyancing in Tiptree on May bank holiday?
This is due to the fact that on completion the money will pass between the banks of the purchaser and seller's solicitor and currently this can only take place on a business day. It is not possible to complete on a weekend either.