My husband and I swapping mortgage lender for our flat in Walworth with Lloyds. We have a son 18 who lives at home. 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, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Lloyds conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Lloyds 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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.
Having sold my house in Walworth last December yet the purchaser is SMS messaging me to moan that his solicitor is waiting to hear from mysolicitor. What should my lawyer have done now that I have sold?
After completion of your disposal your conveyancer is obliged to deliver the transfer documentation and all of the paperwork to the buyer’s lawyers. Where relevant, your lawyer must also send confirmation that the home loan has been repaid to the buyers lawyers. There are no post completion steps just for conveyancing in Walworth.
My fiance and I wish to acquire a purpose built apartment in Walworth with a mortgage from The Royal Bank of Scotland.We like our Walworth conveyancing solicitor but The Royal Bank of Scotland advised that her practice is not listed on their "panel". We have to appoint a The Royal Bank of Scotland panel solicitor or keep our local solicitor and fork out for a The Royal Bank of Scotland panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage issued to you contains terms and conditions, one of which will be that solicitors will be on the The Royal Bank of Scotland conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for The Royal Bank of Scotland
Please help - my lawyer advises that defective lease insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Walworth?
The right level of defective lease indemnity insurance should be dictated by who your lender. It would differ for example between Yorkshire Building Society and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.
We had chosen conveyancers locally in Walworth on the Lloyds solicitor panel. They are now charging me a supplemental fee for handling the Lloyds mortgage. Is this a supplemental conveyancing fee set by Lloyds?
Provided it is contained in their Terms of Engagement or estimate then yes your property lawyer may charge a fee for this. The charge is not dictated by Lloyds but by your Walworth lawyer. Some firms on the Lloyds panel will charge an ‘acting for lender’ fee and others do not.
After what feels like an age I have had an offer on a maisonette in Walworth agreed to, the owners do nevertheless have a connected purchase. The vendors have put an offer on somewhere, but it’s not been accepted yet, and have viewings of other flats booked. I have chosen a bricks and mortar conveyancing solicitor in Walworth. What do I do now? At what stage do I apply for the mortgage with Coventry BS?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of £1k, then valuation, Walworth conveyancing search costs, etc). The first thing to do is check that your solicitor is on the Coventry BS approved list. Regarding the subsequent phase this very much depends on the circumstances of your transaction, desire for this property and on the state of the market. In a buoyant market many home buyers will apply for a home loan with Coventry BS and arrange for the valuation and only if it was satisfactory would they request their conveyancer to proceed with the conveyancing in Walworth.
I opted to have a survey done on a house in Walworth prior to instructing conveyancers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some lenders tend refuse to give a loan on such a premises.
It varies from the lender to lender. Santander has different requirements from Halifax. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Walworth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Walworth to see if the conveyancing costs will increase in light of this.
In my capacity as executor for the estate of my father I am selling a residence in Cardiff but I am based in Walworth. My solicitor (approximately 300 miles from merequires that I execute a stat dec ahead of the transaction finalising. Could you suggest a conveyancing practitioner in Walworth who can attest this legal document for me?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are Walworth based