My husband and I are refinancing our apartment in Midhurst with Virgin Money. We have a son 18 who lives with us. Our solicitor has asked us to disclose 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 repossessed. I have two concerns (1) Is this form unique to the Virgin Money conveyancing panel as he did not need to sign this form when we remortgaged 5 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 Virgin Money 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 Virgin Money. This is solely used to protect Virgin Money 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 Virgin Money 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 up to date is your database of Midhurst solicitors on the TSB conveyancing panel? Do TSB send you an updated list?
Midhurst conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
We wanted to use a conveyancing solicitor in Midhurst for our house purchase. Our broker informed us that our mortgage company Barclays Direct won't deal with them. Surely this is unfair competition?
Lenders in the main restrict either the category or the number of conveyancing solicitors on their member panel. A common example of such criteria being that a law practice must not be a sole practitioner. As well as restricting the type of firm, some have limited the amount of solicitor practices they allow to act for them. You should note that Barclays Direct have no responsibility for the quality of advice provided by any member of Barclays Direct Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels since 2008 even though there remains differing views concerning the extent of solicitor engagement in some of that fraud. Statistics from the Land Registry reveal that hundreds of law firms, including some in or near Midhurst only perform very few conveyances per annum.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Midhurst is the location of the property. Is there any guidance you can impart?
Flying freeholds in Midhurst are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Midhurst you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Midhurst may determine 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 residence.
I need to instruct a conveyancing solicitor for sale conveyancing in Midhurst. I've land on a web site which appears to be the perfect solution If there is a chance to get all this stuff done via phone that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am looking to purchase a repossessed property in Midhurst and the mortgagee in possession require completion within 28 days. Can a conveyancing practitioner meet that timeframe? Would it be better to instruct a local Midhurst firm or an online organisation that advertises to complete quickly?
Visit your Midhurst shopping parade. Go in to 3 companies and request to talk to a conveyancing solicitor for a quote. Set out your needs and get a commitment on speed. Choose the firm that appears most genuine. Make sure to use a property lawyer on the panel of conveyancers approved by your mortgage company.