My husband and I are refinancing our penthouse in Amesbury with Clydesdale. We have a son 18 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. 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 a couple of concerns (1) Is this document specific to the Clydesdale conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your Clydesdale 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 Clydesdale. This is solely used to protect Clydesdale 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 Clydesdale 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.
My property lawyer in Amesbury is not listed on the The Mortgage Works Approved Panel. Is it possible for me to retain my prefered solicitor even though they are excluded from the The Mortgage Works panel of approved conveyancing solicitors?
The limited options open to you here include:
- Carry on with your preferred Amesbury solicitors but The Mortgage Works will need to retain a conveyancer on their panel. This will inevitably rack up the total conveyancing fees as well as result in delays.
- Choose an alternative practitioner to act in the purchase, obviously checking they are on the The Mortgage Works panel
What can a local search reveal about the house we're buying in Amesbury?
Amesbury conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company such as Searches UK The local search is essential in every Amesbury conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search will provide information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
I'm purchasing a new build house in Amesbury with a loan from Santander. The builders would not budge the price so I negotiated £7000 of extras instead. The house builders rep told me not reveal to my lawyer about the deal as it could put at risk my mortgage with Santander. Should I keep quiet?.
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.
I decided to have a survey completed on a house in Amesbury before appointing solicitors. I have been told that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies will refuse to grant a loan on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Amesbury. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are first time buyers - agreed a price, yet the estate agent advised that the vendor will only move forward if we appoint the agent's preferred conveyancers as they want a ‘quick sale’. Our preferred option is to instruct a local solicitor accustomed to conveyancing in Amesbury
It is unlikely the sellers are behind this. Should the seller want ‘a quick sale', turning down a genuine buyer is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and explain that (a)you are motivated purchasers (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you are going to appoint your preferred Amesbury conveyancing lawyers - rather thanthose that will earn their negotiator at the agency a kickback or hit his conveyancing thresholds demanded by senior management.