My wife and I are refinancing our flat in Chapeltown with Nottingham. We have a son approaching twenty 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, giving up any rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the Nottingham conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this compromise 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 Nottingham. This is solely used to protect Nottingham 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 Nottingham 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.
As I am unsure how the conveyancing bit works what is the most important piece of guidance you can impart about purchase conveyancing in Chapeltown?
Not many law firms shout this from the rooftops but conveyancing in Chapeltown or throughout England and Wales is an adversarial process. In other words, when it comes to conveyancing there exists an abundance of room for confrontation between you and other parties involved in the transaction. For instance, the seller, selling agent and on occasion the lender. Selecting a solicitor for your conveyancing in Chapeltown should not be taken lightly as your conveyancer is your adviser, and is the ONE party in the legal process whose interest is to act in your legal interests and to keep you safe.
There is a definite ongoing adversarial element to conveyancing- someone has to be at fault for the process taking so long. You your first instinct should be to trust your solicitor above all other players when it comes to the legal transfer of property.
is it true that all Chapeltown solicitor firms on the Skipton conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Skipton approved list of solicitors they would need to be overseen by the SRA. Many mortgage companies do permit licenced conveyancers on their panel and in that case the organisation would be governed by the CLC.
The formalities of my purchase has taken place for my property in Chapeltown. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Chapeltown bank branch on numerous occasions and was told it wasn't a problem and they would lend. My Chapeltown conveyancing solicitor - who is on the lender conveyancing panel- called and was told they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the solicitor is on the lender approved list, they must adhere to the Council of Mortgage Lenders’ Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Various internet forums that I have come across warn that are the number one reason for obstruction in Chapeltown house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in Chapeltown.
I'm purchasing a new build house in Chapeltown with a loan from Barclays . The developers refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not disclose to my solicitor about the extras as it would put at risk my loan with Barclays . Should I keep quiet?.
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 decided to have a survey carried out on a property in Chapeltown prior to retaining conveyancers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies will not grant a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. If you contact us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Chapeltown. Conveyancing will be smoother if you use a solicitor in Chapeltown especially if they are familiar with such properties in Chapeltown.