My husband and I intend to remortgage our penthouse in Yardley with Virgin Money. We have a son 18 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 forfeited by the lender. I have two questions (1) Is this form unique to the Virgin Money conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong 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 assisting my mother sell her property in Yardley. Will the conveyancer arrange the energy assessment or should I organise this?
Following the abolition of Home Packs, energy assessments was kept a required part of selling a property. An EPC must be commissioned prior to the property being placed on the market. It is not as aspect of the sale process that law firms ordinarily arrange. If you are using a Yardley conveyancing practitioner they may be willing to arrange EPC’s given their contacts with reputable local assessors
My wife and I purchasing a end of terrace house in Yardley. The intention is to an extension at the rear at the house.Will legal due diligence on the property involve investigations to ascertain if these works are allowed?
Your solicitor should review the deeds as conveyancing in Yardley can on occasion identify restrictions in the title deeds which prevent categories of alterations or necessitated the permission of another owner. Some extensions need local authority planning permissions and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be sensible to check these things with a surveyor ahead of any purchase.
Completion of my purchase has taken place for my property in Yardley. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
It has been 4 months following my purchase conveyancing in Yardley took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a flat up to £235,500 and identified one round the corner in Yardley I like with a park and railway links nearby, the downside is that it's only got 49 years on the lease. There is not much else in Yardley for this price, so just wondered if I would be making a grave error buying a short lease?
If you require a home loan that many years may be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
What tools are available to identify a Yardley solicitor on the Coventry Building Society conveyancing panel? I have a car and am prepared to travel upto 20miles to meet the conveyancer.
You can use the search on this website. Please select a mortgage company and your location and you will see a number of Yardley conveyancing lawyers locally. We have listed some Yardley conveyancing firms towards the end of this page and you can ring them to check whether they are on the Coventry Building Society approved list
Living abroad I am unable to be present at my Yardley conveyancing solicitors office to sign documents connected to my conveyancing in Yardley – will this be problematic?
Not a problem. Yardley conveyancing solicitors can deal with home moves for clients throughout the rest of the country. It is not necessary for you to be able to attend a Yardley conveyancers office. Almost all solicitor can undertake everything via post, email, telephone and fax.