My fiance and I swapping mortgage lender for our penthouse in Hackney Marshes with Principality. We have a son approaching twenty who lives at home. 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, waiving any legal rights in the event that the property is repossessed. I have two questions (1) Is this document specific to the Principality conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) Does our son by signing this extinguish 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 grandfather passed away last year and as sole heir and executor I was left the house in Hackney Marshes. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then Leeds Building Society will require that you use a conveyancer on the Leeds Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Leeds Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Leeds Building Society mortgage is registered as a charge at the Land Registry.
Are all Hackney Marshes Conveyancing Quality Solicitors on the RBS conveyancing panel?
It is true that some banks and building societies now use CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
I am expecting a OIP from Kent Reliance this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Kent Reliance recommend any Hackney Marshes solicitors on the Kent Reliance conveyancing panel, or is it better to go independently?
You will need to appoint Hackney Marshes solicitors independently although you'll need to choose one on the Kent Reliance conveyancing panel. The solicitor represents both you and Kent Reliance through the process.
After what seems like an age I have had an offer on an apartment in Hackney Marshes agreed to, the owners do nevertheless have a tied purchase. The vendors have offered on on an apartment, however it’s not yet agreed to, and are looking at other flats in the pipeline. I have instructed a high street conveyancing solicitor in Hackney Marshes. What should be my next step? At what stage should I apply for the mortgage with UBS?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then valuation, Hackney Marshes conveyancing search costs, etc). The first thing to do is ensure that your solicitor is on the UBS approved list. As to the next phase this very much dictated by the uniqueness of your case, attraction to the property and on the state of the market. In a rising market the majority of purchasers will apply for a home loan with UBS and pay for the valuation and only if it comes back ok would they request their solicitor to move forward with searches.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The solicitors who dealt with the conveyancing in Hackney Marshes 4 years ago are no longer around. What do I do?
In today’s world there are copies made of almost everything, and your lawyer will be aware precisely where to find all the suitable paperwork so you may buy or sell your property without a hitch. If duplicates can’t be located, your lawyer may be able to put in place insurance or indemnities against future claims on the property.
I am purchasing my first flat in Hackney Marshes with a mortgage from Bank of Scotland. The developers refused to move on the amount so I negotiated £7000 of additionals instead. The estate agent told me not inform my lawyer about this side-deal as it would adversely affect my loan with the lender. Should I keep quiet?.
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.
I have been sourcing a conveyancing practitioner in Hackney Marshes for my home move. Can I check a firm’s complaints history with the legal regulator?
Members of the public can see documented Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Go to Check a solicitor's record. To find records Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, call +44 (0)121 329 6800. The regulator sometimes recorded telephone calls for training purposes.