My partner and I intend to remortgage our flat in Lake with Lloyds. We have a son approaching twenty who lives at home. 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 two questions (1) Is this form unique to the Lloyds conveyancing panel as he did not need to sign this form when we purchased 5 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 Lake conveyancing solicitors identified as being on the Kent Reliance conveyancing panel, together with their details provided by Kent Reliance?
Lake conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.
I have been referred to a conveyancing solicitor in Lake. I I would like to check if they are accepted on the Aldermore conveyancing panel. Can you help?
You should e-mail your conveyancer and ask them if they can act for the lender. Otherwise you should get in touch with Aldermore who may be able to assist.
I have todaydiscovered that Action Conveyancing have closed. They carried out my conveyancing in Lake for a purchase of a leasehold apartment 10 months ago. How can I establish that my home is not still registered in the name of the former proprietor?
The quickest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Lake conveyancing specialists.
I am buying my first flat in Lake with the aid of help to buy. The sellers would not budge the amount so I negotiated 6k of extras instead. The sale representative told me not disclose to my lawyer about this deal as it could put at risk my loan with the bank. 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.
My brother has encouraged me to use his lawyers for conveyancing in Lake. Should I use them?
No doubt it’s preferable to choose a conveyancing solicitor is to seek guidance from friends or family who have used the firm you're considering.