My husband and I swapping mortgage lender for our apartment in Hyde Park with Lloyds. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. 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 two concerns (1) Is this document specific to the Lloyds conveyancing panel as he did not need to sign this form when we remortgaged 3 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 Lloyds. This is solely used to protect Lloyds 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 Lloyds 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.
Are the Hyde Park conveyancing solicitors identified as being on the Virgin Money conveyancing panel, together with their details provided by Virgin Money?
Hyde Park conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
A relative suggested that where I am purchasing in Hyde Park I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Hyde Park conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Hyde Park around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Hyde Park Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information concerning Hyde Park.
Just bought a detached house in Hyde Park , how long should it take for the Land Registry to record the transfer to my name? My Hyde Park conveyancing solicitor works at snail pace, so I want to be certain the post completion formalities are addressed.
As far as conveyancing in Hyde Park registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can adjust depending on who lodges the application, whether there are errors and if the Land registry have to notify any interested persons or bodies. As of today approximately 80% of such applications are completed in less than three weeks but occasionally there can be longer hold-ups. Historically registration occurs once the new owner has moved in to the property so post completion formalities is not usually an essential issue but if there is a degree of urgency associated with the registration then you or your lawyers can speak with the land registry and explain the circumstances.
What does commercial conveyancing in Hyde Park cover?
Hyde Park conveyancing for business premises covers a broad range of advice, offered by regulated solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I see that you have a search directory identifying solicitors on the bank conveyancing panel. Do Hyde Park conveyancing firms pay you a commission if I instruct them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the mortgage company conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Hyde Park.