My wife and I intend to remortgage our apartment in Caernarfon with Lloyds. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 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 two questions (1) Is this document specific to the Lloyds conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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.
Are the BSA planning on creating a searchable register to to identify solicitors on the Darlington Building Society conveyancing panel for example in Caernarfon?
Lexsure has not been advised of any plans on the part of the BSA to develop such a tool.
How does conveyancing in Caernarfon differ for new build properties?
Most buyers of new build residence in Caernarfon contact us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because developers in Caernarfon typically acquire the land, 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 conveyancers 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 Caernarfon or who has acted in the same development.
Is there anything unique about your site and alternative internet conveyancing brokers when it comes to conveyancing in Caernarfon?
At this site obtain a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that understands the nuances for your conveyancing in Caernarfon. Unlike many estate agents and brokerage sites we do not operate kick-back arrangements with solicitors. A large number of agents and online brokers 'recommend' solicitors paying the highest kickback, rather than the best value conveyancing in Caernarfon
In my capacity as executor for the estate of my aunt I am selling a house in Monmouth but reside in Caernarfon. My solicitor (who is 300 kilometers awayhas requested that I execute a statutory declaration before the transaction finalising. Can you recommend a conveyancing practitioner in Caernarfon who can attest and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will suffice regardless of whether they are based in Caernarfon
Why do I have to send my lawyer with various items of ID ahead of starting my conveyancing in Caernarfon?
Caernarfon lawyers are duty bound by the Law Society, SRA, HM Land Registry and current AML Regulations to record that the have checked the identity of their clients. It is also sometimes a requirement of your mortgage offer. In addition they have to complete various forms, particularly those relating to stamp duty land tax and need to have information such as your full names, NI number and date of birth.