My partner and I are refinancing our apartment in Moston with Co-operative. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have two questions (1) Is this document specific to the Co-operative conveyancing panel as he did not need to sign this form when we bought 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 Co-operative 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 Co-operative. This is solely used to protect Co-operative 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 Co-operative 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.
We see that you have a search directory listing law firms on the Clydesdale conveyancing panel. Do firms pay you a commission if I instruct them for our conveyancing in Moston?
We are a listing service only for law firms wishing to communicate if they are on the Clydesdale conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Moston.
I am buying my first flat in Moston with the aid of help to buy. The sellers would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The sale representative suggested that I not inform my solicitor about this deal as it may jeopardize my loan with Platform Home Loans Ltd. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Due to the encouragement of my in-laws I had a survey completed on a property in Moston before appointing conveyancers. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some banks may refuse to issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Moston. Conveyancing will be smoother if you use a solicitor in Moston especially if they are familiar with such properties in Moston.
Am I best advised to choose a Moston conveyancing practitioner who is local to the property I am purchasing? I have an old university friend who can execute the legal formalities however they are based approximately 350miles away.
The primary upside of using a local Moston conveyancing firm is that you can pop in to execute documents, deliver your identification documents and pester them where appropriate. Having local Moston know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and on the whole were happy that must surpass using an unknown Moston conveyancing solicitor solely due to them being Moston based.
I have noted on various consumer advice websites that when selecting a conveyancing firm they must be approved by your bank. I am new to the process but I have an AIP via HSBC and I already have a local conveyancing solicitor in Moston at the ready. Does Halifax require an approved solicitor to be selected? Does a directory of panel solicitors even exist for my conveyancing in Moston?
You should instruct a solicitor that is on the Halifax panel. The simplest thing to do is ring your chosen Moston conveyancing lawyer and ask if they are on the Halifax panel. If they are not approved you have a number of choices available to you here:
- Carry on with your chosen Moston conveyancer but Halifax will no doubt retain a conveyancing practitioner on their approved list. This will result in additional cost and probable interruption.
- Appoint a fresh conveyancer to act in the purchase, making sure they are on the Halifax conveyancing panel.
- Convince your conveyancer to apply to join the lender panel.