My husband and I swapping mortgage lender for our maisonette in Hoyland with RBS. We have a son 19 who lives at home. 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 apartment is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the RBS conveyancing panel as he never had to sign this form when we remortgaged 4 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 RBS 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 RBS. This is solely used to protect RBS 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 RBS 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 brother-in-law has suggested I instruct a conveyancing solicitor in Hoyland. I need to find out whether they are on the HSBC Bank conveyancing panel. Can you advise?
You should e-mail the lawyer and ask them whether they can act for the bank. Alternatively please call HSBC Bank who may be able to confirm.
I'm the single beneficiary of my late mum's will with all property in now in my sole name, including the my former home in Hoyland. The Hoyland property was put into my name in August. I want to move. I do know about the CML six month 'rule', which means that my property ownership may be considered the same way as though I had purchased the house in August. Is the property unsalable for six months?
The CML 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 could be caught by that. How practical a view mortgage companies take of it, depend on the lender as this obligation is principally there to capture the purchase and immediately sell or the wholesaling and assigning of property.
Is it the case that all Hoyland conveyancing solicitors on the Bank of Ireland conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Bank of Ireland approved list of solicitors they would need to be governed by the SRA. Some banks do allow licenced conveyancers on their panel in which case such firms would be regulated by the CLC.
Nottingham have agreed my mortgage in principle, my offer on a house in Hoyland has been agreed to, what happens next?
The property agent will wish to know who your solicitors are (ensure that the solicitors are on the lender’s panel). Telephone Nottingham or the broker and complete any relevant forms. Nottingham will appoint a valuer who will get in contact with the estate agent or vendor to book a time for the valuation to occur. Once carried out (assuming no problems) it takes about ten days for the mortgage offer to be issued. Nottingham will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Hoyland.
I have been on the look out for a flat up to £245,000 and found one close by in Hoyland I like with open areas and railway links in the vicinity, however it's only got 49 years unexpired on the lease. There is not much else in Hoyland suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
In surfing the world wide web for the phrase cheap conveyancing in Hoyland it brings up numerous conveyancerslocally. How do I determine which is the suitable property lawyer for the sale of my house?
The preferential way of seeking a suitable conveyancer is through a personal testimonial, so enquire of friends and those you trust who have purchased a property in Hoyland or a local estate agent or mortgage broker. Costs for conveyancing in Hoyland differ, so it's sensible to secure at least four estimates from different conveyancers. Make sure that you clarify what costs in the quote includes.
My solicitors in Hoyland have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the bank. Is it case that being on the lender conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the bank directly.