My wife and I intend to remortgage our apartment in Dyserth with Santander. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Santander conveyancing panel as he never had 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 Santander 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 Santander. This is solely used to protect Santander 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 Santander 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 am purchasing a 3 bedroom semi in Dyserth. Our aim is to carry out an extension to the side at the property.Will legal due diligence on the property involve enquiries to ascertain if these alterations are prohibited?
Your solicitor should review the registered title as conveyancing in Dyserth can occasionally identify restrictions in the title deeds which restrict categories of works or necessitated the consent of a 3rd party. Some works require local authority planning consent and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be wise to check these issues with a surveyor before you commit yourself to a purchase.
When it comes to lenders such as Clydesdale, do Dyserth property lawyers have to pay a yearly amount to be on the conveyancing panel?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
Our offer on a detached house in Dyserth has been agreed to, the owners do nevertheless have a connected purchase. The sellers have offered on a flat, however it’s not yet agreed to, and have viewings of other properties in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Dyserth. What do I do now? At what stage do I apply for the mortgage with Bank of Ireland?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx one thousand pounds, then survey, Dyserth conveyancing search charges, etc). First, you must ensure that your conveyancer is on the Bank of Ireland approved list. As to the subsequent stages this very much dictated by the uniqueness of your transaction, desire for the property and on the state of the market. In a buoyant market many home buyers would apply for a home loan with Bank of Ireland and pay for the valuation and only if it comes back ok would they pay their lawyer to press on with searches.
I am purchasing a new build house in Dyserth benefiting from help to buy. The builders refused to reduce the price so I negotiated 6k of additionals instead. The sale representative suggested that I not disclose to my conveyancer about the extras as it would impact my mortgage with The Royal Bank of Scotland. Is this normal?.
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.
Due to the encouragement of my in-laws I had a survey completed on a house in Dyserth before appointing solicitors. I have been advised that there is a flying freehold element to the property. My surveyor advised that some lenders tend not grant a loan on such a property.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Dyserth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Dyserth to see if the conveyancing will be more expensive.
I'm converting the mortgage on my current house to a buy to let mortgage with HSBC Bank and I will use the ballance of the raised equity as a down payment on a second house. The area we are looking at is Dyserth. Will your lawyers be able to act for both sets of banks and tie in the conveyances?
Do use our comparison tool on this site to ensure that the lawyers are on the appropriate lender panels. Having checked that they are the solicitor will be able to tie up the two transactions but you should have a chat with you solicitor and make clear your desired outcome and needs.
Am I better off to use a Dyserth conveyancing lawyer who is local to the property I am hoping to buy? We have a good friend who can conduct the legal work however they are based 400miles away.
The benefit of a local Dyserth conveyancing practice is that you can pop in to sign documents, present your ID and apply pressure on them if necessary. Having local Dyserth know how is a benefit. However it's more important to get someone that will do a good and efficient job. If you know people who used your friend and on the whole were happy that must outweigh using an unknown Dyserth conveyancing solicitor solely due to them being Dyserth based.