My partner and I are refinancing our apartment in Brompton with HSBC. We have a son 18 who lives with us. Our solicitor has asked us to disclose 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 flat is forfeited by the lender. I have two questions (1) Is this document specific to the HSBC conveyancing panel as he never had to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your HSBC 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 HSBC. This is solely used to protect HSBC 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 HSBC 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.
Can you explain why leasehold purchase conveyancing in Brompton is more expensive?
Brompton leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Do I need to have a meeting at the offices of the solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Brompton so that I can pop in to their offices if necessary.
As opposed to twenty years ago, the vast majority lenders no longer need their conveyancing panel lawyer to witness the mortgagors signature. You will still be obliged to hand over identification documents and there are still distinct benefits to using a local ayer, in your situation a conveyancing solicitor in Brompton.
I am purchasing a 3 bedroom semi in Brompton. The intention is to carry out a loft conversion at the house.Will legal investigations on the property include checks to determine if these alterations are allowed?
Your property lawyer will check the deeds as conveyancing in Brompton will sometimes identify restrictions in the title deeds which prevent categories of changes or require the consent of another owner. Certain extensions require local authority planning consent and approval in compliance with building regulations. Certain locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
Please help - my lawyer advises that defective lease insurance is necessary on my purchase. What is the level of cover for Brompton conveyancing?
The right level of defective lease indemnity insurance should be dictated by who who your lender is. It would differ for example between Nationwide Building Society and Leeds Building Society. Conveyancing lawyers as opposed to members of the public take out such insurances.
We previously chose solicitors with offices in Brompton on the UBS solicitor panel. They are now charging me a further charge for the legal aspects of the UBS mortgage. Is this an additional conveyancing fee specified by UBS?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your property lawyer is entitled to levy a fee for this. This charge is not set by UBS but by your Brompton solicitor. Some firms on the UBS panel will levy an ‘acting for lender’ fee but some firms incorporate it on their overall fee.
I know that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when acquiring a residence in Brompton? or Apparently there is historic law that means some homeowners living in a parish church boundary will be compelled to pay for repairs towards the chancel within the church. Is this applicable for conveyancing in Brompton?
Unless a prior acquisition of the house took place after 12 October 2013 you may expect lawyers handling conveyancing in Brompton to continue to advocate a chancel search and or insurance against a claim.
Taking into account that I am about to spend 450k on 3 bedroom house in Brompton I would like to have a conversation with the solicitor regarding thetransaction before giving the go ahead to the firm. Can this be arranged?
Absolutely - we would be delighted to talk to you we do not take any clients on without you speaking to the solicitor due to be doing your property ownership legalities in Brompton.There is no ‘factory style conveyancing’ - each client is unique person, not a case reference. The law firms that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in Brompton should be the amount on the final invoice that you end up paying.