I can't travel far from Blandford Forum. Can you please explain the reason why all Blandford Forum property lawyers are not on all bank panels?
Pre- 2008 most banks displayed an attitude to risk which is different than today. The Financial Services Authority in 2010 instigated a thematic review into mortgage fraud which in summary warned lenders: know the lawyers on your panel. Accordingly, banks have since requiredmore data from law firms concerning their operations and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Hundreds of firms have found themselves removed from lender panels even though they had an exemplary track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms found it impossible meet the minimum amount of transactions the mortgage companies set.
My wife and I are refinancing our flat in Blandford Forum with Aldermore. We have a son 19 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of questions (1) Is this document specific to the Aldermore conveyancing panel as he never had to sign this form when we bought 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Aldermore 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 Aldermore. This is solely used to protect Aldermore 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 Aldermore 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 buying a new build flat in Blandford Forum. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Blandford Forum
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are surveyor prepared. 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.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, chain free conveyancing. Blandford Forum is where the house is located. Can you offer any assistance?
Flying freeholds in Blandford Forum are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Blandford Forum you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Blandford Forum may decide 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.
Should I be suspicious by 3rd parties that I am dealing with are recommending a web based conveyancing firm rather than a local Blandford Forum conveyancing company?
As with lots of service providers, often suggestions from connections can be very helpful. Nevertheless there are lots of players in a conveyancing transaction; estate agents, financial adviser and banks may suggest conveyancers to select. On occasion these solicitors might be known to one of the organisations as experts in their field, but sometimes there exists a financial incentive behind the endorsement. You are free to appoint your preferred conveyancer. Don't forget that the majority of mortgage providers have an approved list of conveyancers you have to use for the lender related work in your house move.
Is it the case that all Blandford Forum legal practices on every bank conveyancing panel?
You can use our search tool or you can drop into your high street lender branch in Blandford Forum. Chances are that they will be in a position to recommend some approved conveyancing solicitors in Blandford Forum