My partner and I changing mortgage lender for our penthouse in Old Malden with HSBC. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have a couple of questions (1) Is this form unique to the HSBC conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your HSBC 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 HSBC. This is solely used to protect HSBC 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 HSBC 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 Old Malden even where I’m not buying or disposing of a house, for instance if I intend to acquire a shop in Old Malden with a loan from Chelsea Building Society?
The service is mainly used to select residential conveyancing solicitors in Old Malden but we have recorded at the end of this page some Old Malden commercial conveyancing firms. You should make contact with the solicitors directly to check if they can also act for Chelsea Building Society
I require fast conveyancing in Old Malden as I have a deadline to complete within 3 weeks. Thankfully I do not need a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
As you are are a mortgage free buyer you have the choice not to do searches although no law firm would advise that you don't. With lots of history conveyancing in Old Malden the following are examples of what can appear and therefore affect future mortgageability: Refused Planning Applications, Outstanding Fees, Overdue Grants, Unadopted Roads,...
I have todaybeen informed that Arc property Solicitors have been shut down. They carried out my conveyancing in Old Malden for a purchase of a freehold house 18 months ago. How can I check that my home is in my name in the name of the previous owner?
The quickest way to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Old Malden conveyancing specialists.
I have been on the look out for a flat up to £305k and identified one close by in Old Malden I like with open areas and station in the vicinity, however it's only got 52 remaining years left on the lease. I can't really find anything else in Old Malden suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
Me and my wife are disposing of a Old Malden ground floor flat left to us 8 years ago in 2011. I have over a decades worth of conveyancing know-how and, now retired, see no reason not to carry out my own conveyancing. The purchaser's property lawyer has informed me that their bank will not allow us to do our own conveyancing as they require the funds to be released via a solicitor's bank account.
Mortgage instructions to property lawyers from all CML members specify that If the seller is not legally represented the borrower's lawyers should check whether the mortgage company needs to be informed so that a decision can be reached as to whether they are willing to progress.