My wife and I intend to remortgage our maisonette in Finchley with Santander. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any 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 did not need to sign this form when we bought 3 years ago (2) Does our son by signing this compromise his rights 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 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.
It is is a decade since I purchased my home in Finchley. Conveyancing solicitors have recently been retained on the sale but I can't locate my title documents. Will this jeopardise the sale?
Don’t worry too much. Firstly there is a possibility that the deeds will be retained by your lender or they may be in the possession of the conveyancers who oversaw your purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. Almost all conveyancing in Finchley relates to registered property but in the unlikely event that your home is not registered it adds to the complexity but is resolvable.
In reviewing online forums for a recommended solicitor in Finchley, most comment that I should instruct a CQS accredited lawyer. What is CQS?
Finchley Conveyancing Quality Scheme solicitors have been granted certification under the Law Society's Scheme (CQS) The Law Society created CQS to establish evidence of quality standards in the in the legal transfer of properties. CQS enables consumers to identify solicitor firms who provide a quality residential conveyancing. Finchley is one of locations in England and Wales in which accredited firms are located. The conveyancing scheme requires solicitors to undergo a strict assessment, compulsory training, self-reporting, random audits and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Council of Mortgage Lenders.
I'm the only recipient of my late grandmother’s will and I have everything in my name alone, including the my former home in Finchley. Conveyancing formalities meant that the Land Registry date was in September. I plan to dispose of the property. I understand that there is a CML 6 month 'rule', meaning my property ownership could be regarded the same way as if I'd bought the house in September. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook instructs 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 might be impacted by that. many lenders would take a practical view as this clause principally exists to pick up on the purchase and immediately sell or the wholesaling and assigning of property.
When it comes to lenders such as TSB, do Finchley conveyancers face an annual charge to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
My partner and I are in the process of looking at houses in Finchley and I am about to put in an offer. Is it advisable to have my property lawyer on ‘stand by’? I will be getting a mortgage with Lloyds.
It would be advisable to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are getting a mortgage with Lloyds, make sure you remember to check that your lawyer is on the Lloyds conveyancing panel.
What does a local search reveal regarding the house we're buying in Finchley?
Finchley conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company for example Xpress Legal The local search plays a central role in many a Finchley conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your new home. The search should supply data on, amongst other things, details on planning applications applicable to the property (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 headings.
I need to instruct a conveyancing lawyer in Finchley for my home move. Is it possible to check a firm’s complaints history with the legal regulator?
Members of the public can see presented Solicitor Regulator Association (SRA) determinations stemming from investigations commenced on or after 1 January 2008. Go to Check a solicitor's record. To find information Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The SRA could monitor telephone calls for training purposes.