I am not in a position to travel far from Bankside. What is the rationale as to why all Bankside conveyancing practitioners aren't included on all lender panels?
As unjust as it may seem for banks to restrict who can act for them, from the public’s or conveyancer’s perspective, the the contrary view is that lending institutions are increasingly anxious and consider it crucial to protect them from mortgage fraud. As a consequence of this concern mortgage companies have consolidated their conveyancing panel to a size that they are happy to control.
My wife and I are refinancing our apartment in Bankside with Santander. We have a son 18 who lives at home. Our solicitor requested us to identify any adults 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 flat is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Santander conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this giving up his entitlement 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 Santander. This is solely used to protect Santander 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 Santander 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 Bankside last February but my buyer keeps telephoning daily to moan that her conveyancer needs to hear from mine. What should my lawyer have done following completion?
Following your disposal your conveyancer should forward the transfer deeds and all of the paperwork to the purchaser's conveyancer. If applicable, your lawyer must also evidence that the mortgage has been paid off to the buyers lawyers. There are no post completion formalities specific conveyancing in Bankside.
I am intent on selling our house in Bankside and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any local conveyancer would know this is not the case. It does beg the question why the buyers are using an internet conveyancing outfit rather than a conveyancing solicitor in Bankside. Having lived in Bankside for six years we know that this is a non issue. Do we contact our local Authority to seek clarification need.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I have justdiscovered that Wolstenholmes have closed. They carried out my conveyancing in Bankside for a purchase of a leasehold apartment 9 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The quickest way to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bankside conveyancing specialists.
I am buying a new build house in Bankside benefiting from help to buy. The builders would not budge the price so I negotiated 6k of additionals instead. The estate agent suggested that I not inform my lawyer about the extras as it would affect my loan with The Royal Bank of Scotland. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.