My wife and I changing mortgage lender for our maisonette in Billingshurst with TSB. We have a son 19 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 property is forfeited by the lender. I have a couple of questions (1) Is this document specific to the TSB conveyancing panel as he never had to sign this form when we bought 4 years ago (2) Does our son by signing this extinguish 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 TSB. This is solely used to protect TSB 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 TSB 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 Billingshurst? Why is this being asked of me?
Billingshurst conveyancing solicitors as well as nationwide property lawyers accross the UK have a duty under Anti-terror and anti-money-laundering rules to verify the ID of any client with a view to ensure that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and evidence of address (typically a Utility Bill no older than three months).
Evidence of source of monies is also required in accordance with the money laundering laws as solicitors are mandated to ensure that the monies you are using to buy a property (be it the exchange deposit or the total purchase price where you are buying mortgage free) has come from an acceptable source (such as employment savings) and is not the fruits of criminal behaviour.
I am looking to buy a house and need a conveyancing solicitor in Billingshurst who is on the Leeds Building Society solicitor. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Leeds Building Society in certain locations such as Billingshurst. We dont recommend any particular firm.
My wife and I are buying a house in Billingshurst. It might be a silly question but how we can trust a conveyancer? On the day of competition we have to put our life savings into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
How can we tell if a Billingshurst conveyancing solicitor on the RBS panel is any good?
When it comes to conveyancing in Billingshurst obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor conducting your transaction.
The formalities of my remortgage has taken place for my property in Billingshurst. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
How does conveyancing in Billingshurst differ for newly converted properties?
Most buyers of new build property in Billingshurst come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Billingshurst typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Billingshurst or who has acted in the same development.
My 20yr old son is embarking on her first house purchase, he had his mortgage in principle. When the offer was accepted on house we rang the bank to go forward with his. We were very surprised to hear that mortgage lenders do not accept all lawyer, they must be on their panel, is this right?
Lenders ordinarily restrict either the type or the number of conveyancing practices on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Billingshurst conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.