My partner and I changing mortgage lender for our flat in Bognor Regis with Principality. We have a son 19 who lives with us. 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, waiving any legal rights in the event that the apartment is repossessed. I have a couple of concerns (1) Is this form unique to the Principality conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this giving up his rights 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 Principality. This is solely used to protect Principality 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 Principality 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.
What is the first thing I need to know about purchase conveyancing in Bognor Regis?
You may not hear this from too many lawyers but conveyancing in Bognor Regis and elsewhere in England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there exists lots of room for confrontation between you and others involved in the house moving process. For instance, the seller, property agent and on occasion the lender. Choosing a law firm for your conveyancing in Bognor Regis should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the legal process whose responsibility is to look after your legal interests and to protect you.
There is a definite increase of a "blame" culture- someone must be at fault for the process taking so long. You must always trust your solicitor ahead of the other players when it comes to the legal transfer of property.
I just acquired a house at auction in Bognor Regis. Conveyancing is necessary. What is next?
Now that you have exchanged you should choose a conveyancing practitioner soon as you are faced with a tight a fixed date to complete the transaction. An auction property will have a corresponding auction pack. This will likely include most,if not all of the documents that your lawyer requires. Where you are dealing with leasehold premises the conveyancing pack may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to a leasehold property. You need to give this to your appointed conveyancing solicitor as soon as possible. Do make sure that that you have the requisite funding organised to complete the transaction on the set completion date.
We were going to get a DIP from Bank of Ireland this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Bognor Regis solicitors on the Bank of Ireland conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Bognor Regis solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
About to purchase house in Bognor Regis. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Bognor Regis conveyancer is on the Coventry BS conveyancing panel.
I'm buying a new build house in Bognor Regis with the aid of help to buy. The developers would not budge the amount so I negotiated £7000 of additionals instead. The estate agent told me not disclose to my conveyancer about the side-deal as it would affect my mortgage with the bank. Do I keep my lawyer in the dark?.
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.
I opted to have a survey done on a house in Bognor Regis in advance of instructing solicitors. I have been advised that there is a flying freehold element to the property. My surveyor advised that some lenders will not issue a mortgage on such a house.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. If you e-mail us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bognor Regis. Conveyancing will be smoother if you use a solicitor in Bognor Regis especially if they are accustomed to such properties in Bognor Regis.
Hoping to buy a property located in Bognor Regis and I am already nervous. I couldn't find anything specific about Bognor Regis. Conveyancing will be needed in due course but do you know about the Bognor Regis area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Bognor Regis. In the meantime here are some basic statistics that we found