My fiance and I are refinancing our penthouse in Morganstown with RBS. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this document specific to the RBS conveyancing panel as he never had to sign this form when we bought 5 years ago (2) Does our son by signing this giving up 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 RBS. This is solely used to protect RBS 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 RBS 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.
Can your site be used to recommend a Conveyancing solicitor in Morganstown even if I’m not buying or selling a house, for example where I want to acquire an office in Morganstown with a loan from Yorkshire Building Society?
Our comparison service is primarily used to select residential conveyancing solicitors in Morganstown but we have recorded at the end of this page a selection of Morganstown commercial conveyancing firms. You will need to enquire with the company directly to establish if they can also act for Yorkshire Building Society
After months of negotiation I have agreed a price on an apartment in Morganstown. My mortgage broker suggested a solicitor. I paid an advanced payment of £175. A few days later, the conveyancing practitioner contacted me to say that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am due to exchange contracts on my house. I had a double glazing fitted in June 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Lloyds are being problematic. The Morganstown solicitor who is on the Lloyds conveyancing panel is recommending indemnity insurance as a solution but Lloyds are insisting on a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
RBS have agreed my mortgage in principle, my offer on a flat in Morganstown has been accepted, what are the next steps?
The estate agent will need to know who your solicitors are (ensure that the solicitors are on the lender’s panel). Call up RBS or your financial adviser and complete any outstanding forms. RBS will instruct a valuer who will get in touch with the estate agent or owners to arrange a time for the valuation to happen. Once carried out (assuming no problems) it takes about a fortnight to get a mortgage offer. RBS will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Morganstown.
Are there restrictive covenants that are commonly identified during conveyancing in Morganstown?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Morganstown. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
My father-in-law has recommend that I instruct his conveyancers in Morganstown. Should I find my own property lawyer?
Much as we are happy to recommend a Morganstown conveyancing lawyer the best way to choose a conveyancing practitioner is to have recommendations from friends or relatives who have used the firm that you are considering.
I am about to exchange buying a property in Morganstown but as a result of wreckage from the recent storms I have negotiated compensation from the seller of five thousand pounds in the form of a adjustment in the price. This was going to be addressed as part of the conveyancing process yet my lender will not permit this. Why were they involved?
Any conveyancing practitioner that is on a bank conveyancing panel is required to disclose to the mortgage company of any changes to the purchase amount. In the event that you were to refuse your solicitor to report the price change to your lender then they would have to disinstructing themselves from representing you and the lender.