My wife and I intend to remortgage our flat in Crick with Kent Reliance. 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 property is forfeited by the lender. I have two concerns (1) Is this form unique to the Kent Reliance conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Kent Reliance 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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.
Do conveyancers request money on account for conveyancing in Crick?
If you are buying a property in Crick your solicitor will request that you put them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. When the down payment is payable against the total price then this will be needed immediately prior to contracts are exchanged. Any further balance that is needed should be transferred shortly before completion.
I had intended to instruct a conveyancing solicitor in Crick for our house purchase. Our broker informed us that our bank Coventry Building Society won't deal with them. Surely this is unduly restrictive?
A decade ago most mortgage companies had a different appetite for risk. Almost all Crick conveyancing firms would have been on most mortgage company panels. The Financial Services Authority in 2010 completed a thematic review into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more information from law firms regarding their operations and the individuals who work for them as well as establishing certain criteria such a completing on a minimum volume of transactions. Many Crick conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Crick is one of the many areas where the conveyancers showing on our search results are are approved Coventry Building Society.
I am the sole beneficiary of my late father’s estate with all property in now in my sole name, including the my former home in Crick. The Crick property was put into my name in August. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', which means that my proprietorship could be treated the same way as if I'd bought the property in August. Is the property unsalable for six months?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. Some lenders would take a pragmatic view as this provision chiefly exists to capture subsales or the flipping of property.
We have a mortgage agreed in principle with Coventry BS. Crick conveyancing solicitors are selected. What is the average time that one could expect to receive a mortgage offer from Coventry BS?
There is no definitive answer here. Have Coventry BS completed the survey? Have you advised Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Completion of my remortgage has taken place for my property in Crick. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost 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. Ordinarily 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.
Due to the encouragement of my in-laws I had a survey completed on a property in Crick prior to retaining lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some banks tend refuse to grant a mortgage on such a premises.
It varies from the lender to lender. Santander has different requirements from Halifax. If you e-mail us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Crick. Conveyancing may be slightly more expensive based on your lender's requirements.
Are there any apps to help identify a Crick law firm on the Platform Home Loans Ltd conveyancing panel? I have a car and am willing to travel upto 10kilometers to meet the lawyer.
Feel free to make use of the facility on this website. Please choose the bank and your location and you will see a number of Crick conveyancing lawyers based on proximity. We have listed some Crick conveyancing firms at the bottom of this page and you can call them to see whether they are on the Platform Home Loans Ltd panel