My partner and I are refinancing our penthouse in Neath Abbey with RBS. We have a son approaching twenty who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this form unique to the RBS conveyancing panel as he did not need to sign this form when we remortgaged 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.
Is it necessary during the course of the conveyancing process to visit the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Neath Abbey so that I can pop in to their offices when needed.
As opposed to twenty years ago, most lenders no longer need their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to hand over ID documents and there are still distinct advantages to using a local ayer, in your case a conveyancing solicitor in Neath Abbey.
I have decided to exercise my right to buy my property in Neath Abbey off the council. I have a mortgage offer with Santander. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
Completion of my purchase has taken place for my property in Neath Abbey. Conveyancing was satisfactory but I would like to complain 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. We understand that complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I was told four weeks ago that my mortgage has been agreed to by Santander. Is it usual for Santander to only issue the offer once my solicitor in Neath Abbey is approved on their conveyancing panel? Santander have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
A friend recommended that if I am buying in Neath Abbey I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Neath Abbey conveyancing searches. It is not a small report of more than thirty pages, listing and setting out important information about Neath Abbey around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Neath Abbey Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Neath Abbey Education with plans and statistics, Local Amenities and other useful information about Neath Abbey.
I am buying a new build house in Neath Abbey with a loan from Lloyds TSB Bank. The builders refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The estate agent told me not to tell my solicitor about this deal as it may affect my mortgage with the lender. Should I keep quiet?.
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.
I am using a search engine for the term conveyancing in Neath Abbey it reveals many property lawyerslocally. How do I determine which is the right solicitor for purchase transaction?
The best way of finding the right conveyancer is through a trusted testimonial, so seek the counsel of friends and those you trust who have acquired a property in Neath Abbey or the reputable estate agent or financial adviser. Charges for conveyancing in Neath Abbey vary, so it's advisable to obtain at least three costs illustrations from varying types of property lawyers. Make sure that you know that the fees are fixed.