My fiance and I intend to remortgage our maisonette in Wollaston with Principality. We have a son 19 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. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is repossessed. I have a couple of concerns (1) Is this form unique to the Principality 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 Principality 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 Principality. This is solely used to protect Principality 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 Principality 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 invested time scouring consumer advice sites for a recommended lawyer in Wollaston, many say that I must use a CQS kitemarked lawyer. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with best practice conveyancing procedures via the scheme protocol Membership covers many companies who execute conveyancing in Wollaston.
Should our solicitor be raising enquiries concerning flooding as part of the conveyancing in Wollaston.
Flooding is a growing risk for conveyancers dealing with homes in Wollaston. Plenty of people will acquire a property in Wollaston, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, however there are a numerous searches that may be initiated by the purchaser or on a buyer’s behalf which will figure out the risks in Wollaston. The conventional set of information given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a usual inquiry of the vendor to discover whether the premises has suffered from flooding. If flooding has previously occurred and is not revealed by the owner, then a purchaser may bring a compensation claim stemming from an misleading answer. The buyer’s solicitors should also carry out an environmental report. This should indicate if there is any known flood risk. If so, further inquiries will need to be made.
I'm buying my first flat in Wollaston with a mortgage from Santander. The sellers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not to tell my lawyer about the deal as it could jeopardize my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
How easy is it to transfer to a new conveyancer as I need to choose one who is on the Birmingham Midshires conveyancing list. I was using a family conveyancing solicitor in Wollaston round the corner but she is not approved by Birmingham Midshires
It would be our pleasure to assist you find a conveyancing solicitor in Wollaston on the Birmingham Midshires panel. Please note that the conveyancers that we on the directory do not pay us a referral fee if you instruct them and are fully regulated by the SRA who regulate all conveyancing solicitors in Wollaston. In making use of search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Wollaston.
I happen to be an executor of my recently deceased aunt’s Will, with a property in Wollaston which is to be marketed. The property has never been registered at HMLR and I'm told that some purchasers will insist that it is in place before they will proceed. What's the mechanism for this?
In the situation that you have set out it seems advisable to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.