It has come to my attention via my IFA that my Hull property lawyer is not on the lender Conveyancing panel. How can I be sure if this is correct?
The first thing you need to do is to call your Hull conveyancer. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they may be able to suggest a Hull conveyancing practice that is on the approved list of lawyers for your bank.
My fiance and I intend to remortgage our apartment in Hull with Principality. We have a son 19 who lives at home. Our solicitor requested us to identify anyone over the age of 17 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 questions (1) Is this document specific to the Principality conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this extinguish his entitlement to inherit the property?
First, rest assured that your Principality 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 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 brother-in-law has suggested I instruct a conveyancing solicitor in Hull. I I would like to check if they are accepted on the The Royal Bank of Scotland conveyancing panel. Could you or the lender confirm if they are on the panel?
The first thing you should do is contact the solicitor and enquire whether they are on the lender panel. Alternatively please call The Royal Bank of Scotland who may be able to confirm.
Me and my brother purchased a renovated Georgian property in Hull. Conveyancing practitioner acted for me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold with the matching property. Is it worth asking Yorkshire Building Society to clarify?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hull and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing lawyer who conducted the conveyancing.
I am purchasing a new build house in Hull benefiting from help to buy. The builders refused to budge the amount so I negotiated 6k of extras instead. The house builders rep suggested that I not inform my solicitor about the side-deal as it could adversely affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Due to the encouragement of my in-laws I had a survey completed on a property in Hull in advance of appointing solicitors. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some lenders may not grant a loan on such a property.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hull. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hull to see if the conveyancing costs will increase in light of this.