My husband and I changing mortgage lender for our flat in Flitwick with Principality. 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 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 apartment is repossessed. I have two questions (1) Is this form unique to the Principality conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this giving up his entitlement 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 Principality. This is solely used to protect Principality 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 Principality 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.
My fiance and I are buying a purpose built flat in Flitwick with a residential mortgage from Chelsea Building Society.We would like to retain our Flitwick conveyancing solicitor but Chelsea Building Society informed us he's not on their "panel". It seems we have no choice but to instruct a Chelsea Building Society panel firm or keep our preferred solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The home loan offered to you contains terms and conditions, a common one being that conveyancers will be on the Chelsea Building Society conveyancing panel. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could choose 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for Chelsea Building Society
My friend suggested that where I am buying in Flitwick I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Flitwick conveyancing searches. It is not a small report of more than thirty pages, listing and setting out important information about Flitwick around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Flitwick Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Flitwick Education with maps and statistics, Local Amenities and other useful information regarding Flitwick.
Are there restrictive covenants that are commonly identified during conveyancing in Flitwick?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Flitwick. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am purchasing a new build house in Flitwick with the aid of help to buy. The sellers would not budge the price so I negotiated £7000 of additionals instead. The sale representative advised me not reveal to my conveyancer about this deal as it may impact my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
What does commercial conveyancing in Flitwick cover?
Flitwick conveyancing for business premises incorporates a broad array of advice, given by regulated solicitors, relating to business property. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.