My wife and I swapping mortgage lender for our penthouse in Gamston with Virgin Money. We have a son 19 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 flat is forfeited by the lender. I have two questions (1) Is this document specific to the Virgin Money conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your Virgin Money 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 Virgin Money. This is solely used to protect Virgin Money 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 Virgin Money 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.
Are the BSA intent on creating a online directory to to identify law firms on the Norwich and Peterborough Building Society conveyancing panel for instance in Gamston?
Lexsure has not been advised of any intention on the part of the BSA to promote such a tool.
Just bought a terraced house in Gamston , What is the estimated time for the Land Registry to deal with the formalities evidencing my proprietorship? My Gamston conveyancing solicitor has been very slow, so I want to be certain that my purchase is registered.
As far as conveyancing in Gamston is concerned, registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timescales can differ subject to the party submitting the application, whether there are errors and if the Land registry communicate with any interested persons or bodies. As of today approximately three quarters of such applications are completed in less than three weeks but some can be subject to longer delays. Historically registration is effected after the new owner has moved in to the premises so 'speed' is not usually primary concern but if there is a degree of urgency associated with the registration then you or your lawyers should communicate with the Registry to express the reasoning for an expedited registration.
Due to the encouragement of my in-laws I had a survey completed on a house in Gamston ahead of retaining solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some lenders may refuse to issue a mortgage on a flying freehold property.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you e-mail us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Gamston. Conveyancing will be smoother if you use a solicitor in Gamston especially if they regularly deal with such properties in Gamston.
I am a sole trader hoping to take an assignment of a lease of a shop on the high street. Can you recommend conveyancers offering no-move-no charges for commercial conveyancing in Gamston for under £2000?
We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Gamston, including the sale and acquisition of businesses as well as simply premises. Whether you are looking to buy or sell a shop, pub, restaurant, office, retail unit or a whole business we can find you the right firm. As for the charges these will vary based on the structure and nuances of the deal. Let us have your details or email so as to enable us to furnish you with a detailed commercial conveyancing quote.
My wife and I have appointed a Gamston conveyancing solicitor for our house purchase (novice purchasers) and have noticed in the terms and conditions that they are not governed by the FCA. Am I right to be concerned or is that standard with solicitor?
We can't see why they should be. Most solicitor don't lend money. They should be governed by the Solicitors Regulation Authority, who have specific rules regulating funds held in their bank.