My husband and I are refinancing our apartment in Boxmoor with Virgin Money. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have two concerns (1) Is this form unique to the Virgin Money conveyancing panel as he never had to sign this form when we bought 3 years ago (2) Does our son by signing this extinguish 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 Virgin Money. This is solely used to protect Virgin Money 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 Virgin Money 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 considering applying for a Yorkshire BS mortgage for purchase of a new build (under development) in Boxmoor with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Yorkshire BS ?
In theory, you could use a solicitor that is not on the Yorkshire BS conveyancing panel, but Yorkshire BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Forgive me if this question is silly but I am wet behind the ears as a first time purchaser of a garden flat in Boxmoor. Do I collect the keys to the house on the completion date from my lawyer? If so, I will use a High Street conveyancing solicitor in Boxmoor?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the owner’s conveyancers, and shortly after the monies have arrived, you will be called to receive the keys from the selling Agents and start moving into the property. Usually this happens early afternoon.
We are getting the release of further monies on our home loan from Barclays as we intend to carry out a loft conversion to our home in Boxmoor. Do we need to choose a nearby Boxmoor solicitor on the Barclays conveyancing panel to handle the legals?
Barclays would not normally instruct firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays conveyancing panel.
I have paid off my mortgage with Virgin Money. I assume I don't need a Boxmoor lawyer on the Virgin Money panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I am looking for a ground for flat up to £195,000 and found one round the corner in Boxmoor I like with amenity areas and transport links nearby, however it only has 51 years unexpired on the lease. I can't really find anything else in Boxmoor for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I need to instruct a conveyancing solicitor in Boxmoor for my house move. Is there any facility to see a firm’s record with the legal regulator?
One may search for presented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Go to Check a solicitor's record. To find information about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The regulator could monitor call for training requirements.
Whilst your website is a good idea there are many lawyers listed near Boxmoor being on the lender conveyancing panel. Can you recommend a specific firm on the bank approved panel?
We are not in the business of recommending one firm above another as the right Boxmoor conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Boxmoor knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..