My fiance and I are refinancing our flat in Boscastle with UBS. We have a son 18 who lives at home. 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 apartment is forfeited by the lender. I have two concerns (1) Is this document specific to the UBS conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your UBS 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 UBS. This is solely used to protect UBS 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 UBS 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.
When it comes to lenders such as Virgin Money, do Boscastle lawyers incur a yearly amount to be on the list of approved solicitors?
We are not aware of any lender fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I am selling my house. I had a double glazing fitted in June 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Barclays are being difficult. The Boscastle solicitor who is on the Barclays conveyancing panel is recommending indemnity insurance as a solution but Barclays are insisting on a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Bank of Ireland have agreed my home loan in principle, my offer on a house in Boscastle has been agreed to, what are the next steps?
The estate agent will want to be advised as to your conveyancer's details (ensure that the lawyers are on the bank’s approved list). Contact Bank of Ireland or the financial adviser and finalise any appropriate documentation. Bank of Ireland will sellect a valuer who will get in contact with the selling agent or vendor to book an appointment. Once conducted (assuming no problems) it takes on average a week to get a mortgage offer. Bank of Ireland will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Boscastle.
How does conveyancing in Boscastle differ for newly converted properties?
Most buyers of new build residence in Boscastle approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because developers in Boscastle typically buy the site, 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 used to new build conveyancing in Boscastle or who has acted in the same development.
Over the last few months I have been searching for a flat up to £305k and found one near me in Boscastle I like with amenity areas and railway links in the vicinity, however it's only got 61 years on the lease. I can't really find anything else in Boscastle suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan that many years may be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
What does commercial conveyancing in Boscastle cover?
Boscastle conveyancing for business premises incorporates a broad array of advice, offered by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
A conveyancing company handled my conveyancing in Boscastle half a dozen years past and was holding my deeds but has since been shut down – What steps do I now take to get hold of them?
Deeds, as such, are no longer appropriate for the majority of properties in Boscastle are registered digitally at Land Registry. Should you need to show evidence of proprietorship or are selling or refinancing your property lawyer will need to obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned as quickly as possible.