My partner and I intend to remortgage our maisonette in Lindfield with UBS. 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. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this form unique to the UBS conveyancing panel as he did not need to sign this form when we purchased 3 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 UBS 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 UBS. This is solely used to protect UBS 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 UBS 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.
I can see plenty of information on this site concerning conveyancing in Lindfield but what is your top tip for selecting the right conveyancer in Lindfield
It would be unwise to be seduced by the cheapest Lindfield conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Last month we had a mortgage agreed in principle with Co-operative. Lindfield conveyancing solicitors have been chosen. How long does it take for Co-operative to send the offer to the lawyer?
Some lenders take longer than others. Have Co-operative completed the valuation? Have you advised Co-operative as to your lawyers' details and checked that your lawyers are on the Co-operative conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Completion of my remortgage has taken place for my property in Lindfield. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Will my lawyer be raising questions about flooding during the conveyancing in Lindfield.
Flooding is a growing risk for lawyers dealing with homes in Lindfield. There are those who buy a house in Lindfield, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, however there are a various searches that may be carried out by the purchaser or by their conveyancers which can figure out the risks in Lindfield. The conventional set of completed inquiry forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard question of the seller to find out if the property has suffered from flooding. If the premises has been flooded in past which is not revealed by the vendor, then a buyer may bring a legal claim for losses stemming from an incorrect reply. The purchaser’s solicitors should also conduct an enviro report. This should reveal if there is any known flood risk. If so, more detailed inquiries will need to be conducted.
How does conveyancing in Lindfield differ for new build properties?
Most buyers of new build property in Lindfield contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is completed. This is because builders in Lindfield typically acquire the land, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Lindfield or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Lindfield is where the house is located. Can you offer any guidance?
Flying freeholds in Lindfield are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lindfield you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lindfield may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My wife and I are buying a studio flat in Lindfield. When we first instructed property lawyer, we were told they were on all major UK lender panels. The financial adviser contacted us yesterday to advise that they are not on the Nottingham approved list. If it turns out to be true, what should we do? Should we just choose a new solicitor that is on their panel or do we pay for separate representation, with Nottingham appointing their own approved property lawyer.
Where you are acquiring a property requiring a mortgage it is conventional for the buyer’s solicitors to also represent the mortgage company. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's list of approved lawyers. An application has to be made by the property lawyer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the solicitor has to meet. Some building societies now require their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your conveyancer should call Nottingham to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on Nottingham's conveyancing panel and you may continue to use your own Lindfield solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another property lawyer into the mix.