My partner and I are refinancing our penthouse in Mile End with Kent Reliance. We have a son approaching twenty who lives at home. 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 property is forfeited by the lender. I have two questions (1) Is this form unique to the Kent Reliance conveyancing panel as he did not need to sign this form when we bought 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 Kent Reliance. This is solely used to protect Kent Reliance 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 Kent Reliance 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 do I investigate if the solicitor conducting my conveyancing in Mile End is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Bank of Ireland thus paying £175.00 in further conveyancing fees.
You should make use of the search tool on this site. Pick the lender and type ‘Mile End’ or your preferred area and you will be presented with a number of lawyer located in Mile End or near you.
3 months have elapsed following my purchase conveyancing in Mile End took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying my first flat in Mile End with a mortgage from Godiva Mortgages Ltd. The developers refused to budge the amount so I negotiated £7000 of extras instead. The house builders rep advised me not reveal to my lawyer about the deal as it may jeopardize my mortgage with Godiva Mortgages Ltd. 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.
I decided to have a survey carried out on a house in Mile End before appointing solicitors. I have been advised that there is a flying freehold element to the property. The surveyor has said that some mortgage companies tend refuse to issue a mortgage on this type of premises.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. Should you wish to call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Mile End. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Mile End to see if the conveyancing costs will increase in light of this.
I am using a search engine for the phrase cheap conveyancing in Mile End it reveals many solicitorsin the area. How do I determine which is the right conveyancer for my move?
The preferential way of seeking a suitable conveyancer is through a trusted recommendation, so seek the counsel of friends and family who have bought a property in Mile End or a local estate agent or financial adviser. Fees for conveyancing in Mile End differ, so it's a good idea to request at least three estimates from varying types of law firms. Make sure that you clarify what costs in the quote includes.