My husband and I intend to remortgage our penthouse in Frenchay Common with Principality. We have a son 18 who lives at home. 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, giving up any rights in the event that the flat is repossessed. I have two concerns (1) Is this form unique to the Principality conveyancing panel as he did not need to sign this form when we bought 4 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.
Having sold my house in Frenchay Common last February but my buyer keeps calling every few hours complaining that her solicitor needs to hear from mine. What are the post completion sale legalities now that I have sold?
Following your disposal your lawyer should forward the transfer documentation and all supplemental paperwork to the buyer’s conveyancer. If applicable, your conveyancer must also send confirmation that the mortgage has been redeemed to the buyers lawyers. There are no post completion procedures just for conveyancing in Frenchay Common.
I am considering applying for a Principality mortgage for purchase of a new build (under development) in Frenchay Common with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Principality ?
In theory, you could use a solicitor that is not on the Principality conveyancing panel, but Principality would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I am the single recipient of my late mum's will and I have everything in my name alone, including the my former home in Frenchay Common. The Frenchay Common property was put into my name in October. I plan to dispose of the house. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership may be considered the same way as if I'd bought the house in October. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook mandates solicitors 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 impacted by that. How sensible a view lenders take of it, depend on the lender as this provision is chiefly there to identify subsales or the flipping of properties.
After months of negotiation I have agreed a price on a house in Frenchay Common. My mortgage broker suggested a conveyancer. I paid an on account payment of £150. A couple of days later, the solicitor called me embarrassingly acknowledging that they were not on the Nottingham conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nottingham panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Our sealed bid on a house in Frenchay Common has been accepted, the vendors do however have an associated purchase. The sellers have put an offer on somewhere, but it’s not yet tied up, and have viewings of other flats in the pipeline. I have instructed a nearby conveyancing solicitor in Frenchay Common. What do I do now? When should I get the mortgage application with Lloyds going?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is in the region of £1k, then survey, Frenchay Common conveyancing search costs, etc). The first thing to do is ensure that your conveyancing practitioner is on the Lloyds approved list. Concerning the subsequent phase this very much depends on the circumstances of your case, motivation for this property and on the state of the market. In a buoyant market some purchasers would apply for a home loan with Lloyds and pay for the valuation and only if it was satisfactory would they pay their lawyer to move forward with searches.
I have todaydiscovered that Wolstenholmes have been shut down. They carried out my conveyancing in Frenchay Common for a purchase of a leasehold apartment 9 months ago. How can I be sure that my home is in my name in the name of the former proprietor?
The easiest method to see if the property 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 Frenchay Common conveyancing specialists.
I am looking for a flat up to £195,000 and found one close by in Frenchay Common I like with open areas and railway links nearby, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Frenchay Common in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan that many years will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this.