I am hoping to receive a offer of a home loan from Santander. I hope to instruct a Licensed Conveyancer in Leven. Does the Santander Conveyancing panel allow for Licensed Conveyancers?
The Santander approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
My wife and I intend to remortgage our maisonette in Leven with Bank of Ireland. We have a son 18 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Bank of Ireland conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this compromise his entitlement 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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.
How does conveyancing in Leven differ for newly converted properties?
Most buyers of new build or newly converted property in Leven approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is constructed. This is because developers in Leven typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Leven or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £235,500 and found one near me in Leven I like with open areas and station nearby, however it only has 61 years unexpired on the lease. There is not much else in Leven for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
Do I need to be wary that estate agents that I am dealing with are encouraging me to use a national conveyancing firm rather than a local Leven conveyancing firm?
As is the case with lots of service providers, often input from connections can be most helpful. Nevertheless there are numerous people with a keen interest in a conveyancing deal; estate agents, financial adviser and lenders may suggest solicitors to instruct. Sometimes these conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there exists a financial incentive behind the recommendation. You are free to choose your preferred conveyancer. Don't forget that many banks have an approved list of law firms you have to use for the lender aspect of your transaction.
My folks are having problems in finding their Leven land registry title on the website. They recall that 50 years ago when they purchased the bungalow there were complications with the address not being identified on some systems.
Almost all residences in Leven should show up. Have you endevoured to search to simply the postcode. Normally it will mention all the residences inside the postcode. Where recorded it will be there with a title number. If they bought back in the 60’s it's conceivable it may be not yet registered. The address may still be revealed but with the title number shown 'na'. In this scenario you will need to locate the original title deeds which could be with your parent’s bank.