My partner and I intend to remortgage our flat in Coombe with Lloyds. We have a son 19 who lives at home. Our solicitor has asked us to disclose 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, waiving any legal rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this form unique 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.
Forgive me if this question is silly but I am new to the process as a first time purchaser of a ground floor flat in Coombe. Do I collect the keys to the premises on completion from my conveyancer? If so, I will instruct a local conveyancing solicitor in Coombe?
On the day of completion you do not need to go to the conveyancers office in Coombe. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's solicitors, and once they have received this, you should be invited to receive the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
We previously selected conveyancers locally in Coombe on the Clydesdale solicitor approved list. They have just invoiced me a separate amount for the legal aspects of the Clydesdale mortgage. Is this a supplemental conveyancing fee specified by Clydesdale?
Provided it is contained in their Terms and Conditions or estimate then yes your solicitor can levy a fee for this. The charge is not set by Clydesdale but by your Coombe lawyer. Numerous firms on the Clydesdale panel will charge an ‘acting for lender’ fee and others do not.
How can we know in advance if a Coombe conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Coombe seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer carrying out your conveyancing.
What does a local search inform me concerning the house my wife and I buying in Coombe?
Coombe conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance Xpress Legal The local search is essential in every Coombe conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search will provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
three months have elapsed following my purchase conveyancing in Coombe concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How simple is it to use your search facility to select a conveyancing solicitor in Coombe on the approved list for my bank?
1st select a bank such as Lloyds TSB Bank, Bank of Scotland or Clydesdale then type in your location e.g. Coombe. Conveyancing practices in Coombe and further afield should be listed.
Should I instruct a Coombe conveyancing lawyer in close proximity to the house I am buying? An old friend can carry out the legal formalities however his firm is located over three hundred kilometers away.
The benefit of a local Coombe conveyancing practice is that you can visit the firm to sign documents, present your ID and pester them where appropriate. Having local Coombe know how is a bonus. However it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and in the main were content that must trump using an unfamiliar Coombe conveyancing lawyer solely due to them being local.