My fiance and I are refinancing our penthouse in Holborn with UBS. We have a son approaching twenty who lives with us. 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 apartment is repossessed. I have a couple of concerns (1) Is this document specific to the UBS conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your UBS 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 UBS. This is solely used to protect UBS 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 UBS 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 what way does my ID and proof of funds have anything to do with my conveyancing in Holborn? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the ID of the potential client they are dealing with prior to agreeing to accepting their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lender will also require certain documents to be checked. Where you refuse to provide ID verification documents, your solicitor would not be able to accept instructions from you.
Various web forums that I have come across warn that are a common cause of delay in Holborn conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any slowing down conveyancing in Holborn.
About to purchase a new build flat in Holborn. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Holborn
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please confirm the Lease plans are surveyor prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
How simple is it to transfer to a new solicitor as I have to choose a firm on the Nationwide Building Society conveyancing list. I had appointed a high street conveyancing solicitor in Holborn round the corner but he is not approved by Nationwide Building Society
It would be our pleasure to assist you find a conveyancing solicitor in Holborn on the Nationwide Building Society panel. Please note that the law firms that we work with do not pay us a referral fee if you instruct them and are under regulation of the Solicitors Regulation Authority who oversee all conveyancing solicitors in Holborn. Using the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Holborn.
I am using a search engine for the term conveyancing in Holborn it shows results of numerous solicitorsin the area. With so much choice what is the best way to find the suitable conveyancing solicitor for the sale of my house?
The preferential method of seeking the right conveyancer is through a personal recommendation, so seek the guidance of friends and relatives who have bought a property in Holborn or the respected estate agent or financial adviser. Charges for conveyancing in Holborn differ, so it's advisable to request at least three fee estimates from different conveyancers. Make sure that you know what costs in the quote includes.