I am hoping to receive a mortgage with Santander. I hope to instruct a Licensed Conveyancer in Creekmouth. Does the Santander Solicitor panel allow for conveyancers regulated by the CLC?
The Santander approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My fiance and I swapping mortgage lender for our penthouse in Creekmouth with UBS. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. 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 UBS conveyancing panel as he did not need to sign this form when we purchased 5 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 UBS. This is solely used to protect UBS 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 UBS 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 own a freehold house in Creekmouth but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Creekmouth and has limited impact for conveyancing in Creekmouth but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
My fiance and I wish to acquire a newly converted flat in Creekmouth with a residential mortgage from Virgin Money.We like our Creekmouth conveyancing solicitor but Virgin Money informed us she’s not listed on their "panel". We have to appoint a Virgin Money panel firm or retain our preferred solicitor and fork out for a Virgin Money panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Virgin Money use our lawyer?
No, not really. The mortgage issued to you is subject to its terms and conditions, one of which will be that solicitors needs to be on the Virgin Money solicitor panel. in the past, most banks had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Virgin Money
I acquired my apartment on 9 August and the transaction details is yet to be on the land registry website. Any reason for this? My conveyancing solicitor in Creekmouth expressed confidence that it would be concluded inside ten days. Are properties in Creekmouth uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Creekmouth registration formalities. Rather than based on location, timeframes can adjust subject to who lodges the application, whether there are errors and if the Land registry must send notices to any 3rd persons or bodies. Currently roughly 80% of submission are fully dealt with within two weeks but some can be subject to protracted delays. Historically registration is effected after the new owner has moved in to the premises therefore 'speed' is not usually primary concern yet where there is a degree of urgency associated with the registration then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
Why do I have to supply my property lawyer with numerous items of ID ahead of starting selling or buying a property in Creekmouth?
Creekmouth conveyancers are obliged by the Law Society, Solicitors Regulation Authority, HMLR and current Money Laundering legislation to record that the have checked the identity of their clients. It will also be a condition of your mortgage offer. In addition they have to complete various forms, particularly those relating to stamp duty land tax and need to have details such as your full names, NI number and DOB.