My partner and I intend to remortgage our penthouse in Chichester with RBS. We have a son approaching twenty 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 flat is forfeited by the lender. I have a couple of questions (1) Is this form unique to the RBS conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your RBS 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 RBS. This is solely used to protect RBS 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 RBS 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 acquired my house on 16 July and the transaction details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Chichester said it would be registered inside ten days. Are transfers in Chichester particularly slow to register?
There is nothing unique when it comes to conveyancing in Chichester registration formalities. Rather than based on location, timescales can vary subject to the party submitting the application, whether there are errors and whether the Land registry must send notices to any interested persons or bodies. Currently approximately three quarters of such applications are fully dealt with in less than three weeks but some can be subject to extensive hold-ups. Historically registration occurs after the buyer is living at the premises therefore post completion formalities is not always primary concern but where there is a degree of urgency associated with the registration then you or your solicitor could communicate with the Registry to express the reasoning for the application to be prioritised.
I'm purchasing my first flat in Chichester with the aid of help to buy. The builders refused to budge the price so I negotiated 6k of extras instead. The sale representative advised me not reveal to my conveyancer about this deal as it will put at risk my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in Chichester I like with open areas and transport links in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in Chichester in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage that many years may be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass 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.
I'm converting the mortgage on my existing home to a buy to let mortgage with Barclays and I will use the rest of the raised equity as a down payment on a second property. The location we are interested in is Chichester. Will your conveyancers be able to act for both sets of lenders and tie in the transactions?
Do use our comparison tool on this site to be sure that the lawyers are approved by both lenders. Having checked that they are the solicitor should be able to connect the two conveyancing matters but you should have a chat with you solicitor and make apparent your desired outcome and requirements.
In my capacity as executor for the will of my aunt I am disposing of a house in Swansea but I am based in Chichester. My lawyer (based 260 kilometers from meneeds me to execute a stat dec before completion. Can you recommend a conveyancing solicitor in Chichester to attest and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are based in Chichester