My fiance and I swapping mortgage lender for our penthouse in Dulverton with HSBC. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this document specific to the HSBC 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?
First, rest assured that your HSBC 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 HSBC. This is solely used to protect HSBC 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 HSBC 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.
We are selling our home in Dulverton. Will the conveyancer have to be on the Clydesdale conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Clydesdale conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
I have recentlybeen informed that Arc property Solicitors have been shut down. They carried out my conveyancing in Dulverton for a purchase of a freehold house 12 months ago. How can I check that my home is in my name in the name of the former proprietor?
The quickest way to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Dulverton conveyancing specialists.
How does conveyancing in Dulverton differ for new build properties?
Most buyers of new build premises in Dulverton contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Dulverton typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Dulverton or who has acted in the same development.
I'm remortgaging my primary home to a buy to let mortgage with Bank of Ireland and I will use the rest of the raised equity as a down payment on another property. The area we are talking about is Dulverton. Will your solicitors be able to act for the two banks and link together the two deals?
Make use of our search tool on this site to check that the lawyers are approved by both banks. Having checked that they are the lawyer will be able to tie up the two conveyancing matters but you should talk with you lawyer and specify your desired outcome and requirements.
My partner has suggested that I use his conveyancing solicitors in Dulverton. Should I use them?
Much as we are happy to recommend a Dulverton conveyancing lawyer the best way to find a conveyancing practitioner is to get feedback from friends or relatives who have previously instructed the solicitor that you are contemplating using.