My partner and I are refinancing our flat in Ormesby with Principality. We have a son 19 who lives with us. Our solicitor has asked us to disclose 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 apartment is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Principality conveyancing panel as he never had 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 Principality. This is solely used to protect Principality 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 Principality 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.
I have been referred to a conveyancing solicitor in Ormesby. I I would like to check if they are accepted on the TSB approved list of lawyers. Could you advise?
The first thing you should do is contact the solicitor and ask them whether they are on the lender panel. Alternatively please get in touch with TSB who may be able to help.
A colleague pointed out to me me that in purchasing a property in Ormesby there could be various restrictions limiting what one can do in terms of external changes to a property. Is this right?
There are a number of properties in Ormesby which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Ormesby should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am the single recipient of my late grandmother’s estate and I have everything in my name now, including the my former home in Ormesby. The Ormesby property was put into my name in October. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my property ownership may be regarded the same way as if I'd bought the property in October. Is the property unsalable for six months?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. How sensible a view banks take of it, depend on the lender as this provision is primarily there to identify the purchase and immediately sell or the quick reselling of property.
My offer on a property in Ormesby has been accepted, but there is a chain. The vendors have offered on somewhere, but it’s not yet tied up, and have viewings of other properties in the pipeline. I have selected a bricks and mortar conveyancing solicitor in Ormesby. What should be my next step? At what stage do I apply for the mortgage with Clydesdale?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then survey, Ormesby conveyancing search charges, etc). The first thing to do is ensure that your solicitor is on the Clydesdale approved list. Concerning the subsequent steps this very much depends on the specifics of your case, desire for the property and on the state of the market. In a buoyant market some purchasers would apply for the mortgage with Clydesdale and arrange for the valuation and only if it comes back ok would they pay their lawyer to press on with the conveyancing in Ormesby.
How does conveyancing in Ormesby differ for new build properties?
Most buyers of new build property in Ormesby approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is completed. This is because developers in Ormesby tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ormesby or who has acted in the same development.
How simple is it to use the search facility to select a conveyancing practitioner in Ormesby on the authorised to act for my mortgage?
First pick a mortgage company such as Santander, Bank of Scotland or Alliance & Leicester then choose your preferred area a common one being Ormesby. Conveyancing practices in Ormesby and further afield should be listed.
I am looking for a conveyancing lawyer in Ormesby for my house move. Is there any facility to review a solicitor's record with the profession’s regulator?
Members of the public can review presented Solicitor Regulator Association (SRA) decisions stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. For details about the period before 1 January 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The SRA may monitor telephone calls for training reasons.