My partner and I changing mortgage lender for our apartment in Gloucestershire with Bank of Ireland. We have a son 19 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Bank of Ireland conveyancing panel as he never had to sign this form when we bought 4 years ago (2) In signing this form is our son in any way compromising his right 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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.
In researching online forums for a recommended lawyer in Gloucestershire, many say that I should look for a CQS accredited solicitor. Can you explain what CQS is?
Gloucestershire Conveyancing Quality Scheme practices have obtained accreditation by the law Society CQS was established to establish evidence of quality standards in the home moving process. CQS enables buyers and sellers to recognise solicitor firms who provide a quality residential conveyancing. Gloucestershire is one of locations in England and Wales in which accredited firms have a presence. The conveyancing scheme requires law firms to undergo a strict assessment, compulsory training, self-reporting, spot checks and annual reviews in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Association of British Insurers.
Will our lawyer be making enquiries about flooding as part of the conveyancing in Gloucestershire.
Flooding is a growing risk for lawyers conducting conveyancing in Gloucestershire. Plenty of people will purchase a house in Gloucestershire, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, however there are a numerous checks that may be carried out by the purchaser or by their conveyancers which should give them a better appreciation of the risks in Gloucestershire. The standard information given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the owner to discover whether the property has historically flooded. In the event that flooding has previously occurred which is not notified by the owner, then a buyer may commence a compensation claim as a result of such an inaccurate reply. The buyer’s conveyancers should also carry out an environmental search. This will reveal whether there is a recorded flood risk. If so, further inquiries should be carried out.
three months have elapsed following my purchase conveyancing in Gloucestershire concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Gloucestershire is where the house is located. Can you shed any light on this issue?
Flying freeholds in Gloucestershire are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Gloucestershire you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Gloucestershire may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I need to switch lawyers as my Gloucestershire lawyer is not on the bank's approved list of conveyancing solicitors. Is it advisable to appoint a new law firm?
If you haven't yet appointed a conveyancer to commence the conveyancing and at this stage simply received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Gloucestershire that you're considering.