My fiance and I intend to remortgage our maisonette in Woodside Park with Virgin Money. We have a son 19 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is repossessed. I have two questions (1) Is this form unique to the Virgin Money conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) Does our son by signing this giving up his rights 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.
In what way does my ID and proof of funds have anything to do with my conveyancing in Woodside Park? What am I being asked for?
To satisfy the Money Laundering Regulations any Woodside Park conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility bill showing where you live.
In accordance with Money Laundering Regulations, conveyancing solicitors are required to investigate not just the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. An unwillingness to disclose this may result in your solicitor terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to make a disclosure to the relevant authorities should they believe that any amounts received by them may contravene the Anti-terror and anti-money-laundering rules.
There is lots of information on this site about conveyancing in Woodside Park but can you isolate your top tip for appointing the right conveyancer in Woodside Park
Do not opt for the lowest Woodside Park conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
Forgive me if this question is silly but I am unseasoned as FTB of a two bedroom flat in Woodside Park. Do I receive the keys to the premises on completion from my solicitor? If this is the case, I will instruct a local conveyancing solicitor in Woodside Park?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the seller's solicitors, and once they have received this, you will be invited to collect the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
Aldermore have agreed my home loan in principle, my offer on a house in Woodside Park has been accepted, now what?
The estate agent will want to know who your solicitors are (ensure that the solicitors are on the lender’s approved list). Telephone Aldermore or your financial adviser and finalise any appropriate forms. Aldermore will appoint a valuer who will get in contact with the selling agent or owners to book an appointment. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Aldermore will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Woodside Park.
The estate agent has sent us the confirmation of our purchase of a new build flat in Woodside Park. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Woodside Park
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Woodside Park is the location of the property. Is there any advice you can give?
Flying freeholds in Woodside Park 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 Woodside Park you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woodside Park may ascertain 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.
Are there any apps to help locate a Woodside Park solicitor on the Bank of Scotland conveyancing panel? I am a keen cyclist and am happy to travel upto 25miles to meet the lawyer.
You can use the tool on this page. Please choose the bank and your location and you will see a number of Woodside Park conveyancing lawyers based on proximity. We have listed some Woodside Park conveyancing firms towards the end of this page and you can telephone them to check whether they are on the Bank of Scotland approved list